NAS100 NDX Technical Analysis: The NASDAQ is witnessing a bearish trading movement today, with the index recording a high of 19,547.58 and a low of 19,393.99. Currently, the index is trading around 19,516.48, reflecting volatility with some signs of weakness in the downward momentum.
NAS100 NDX Technical Analysis: General Trend Analysis
The index is showing a bearish movement with some weakness, as prices are currently trading below the major moving averages, supporting the overall downward trend. However, the apparent weakness in the downward momentum may indicate a possible correction or stabilization in the coming period.
Technical Analysis:
- Moving Averages:
Prices are currently trading below the moving averages, reflecting clear downward pressure, but with some weakness in the momentum.
2. MACD Indicator:
The MACD indicator is showing negative signals, with the MACD line trending downward relative to the signal line, but with some weakness in the downward momentum, which may indicate a potential for stability or a limited correction.
- Support and Resistance Levels:
Support: The main support is located at 19,393.99, the low recorded today.
Resistance: The main resistance level is located at 19,547.58, the high recorded today.
Trading Outlook:
Given the continued downward pressure and weak momentum, the index is expected to continue moving towards nearby support levels, with the possibility of testing the 19,442.30 level again. If this level is broken, the index may move towards deeper support levels. On the other hand, any upward movement may encounter strong resistance at 19,633.43, which could return the index to its downward trajectory.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 19633.43 | 19442.30 |
| Target Point 1 (TP1) | First resistance: 19712.99 | First support: 19334.92 |
| Target Point 2 (TP2) | Second resistance: 19750.45 | Second support: 19280.50 |
| Stop Loss (SL) | 19442.30 | 19633.43 |
The Nasdaq is showing a downward movement with some weakness in momentum, suggesting a continued downward trend in the short term. Traders are advised to monitor key support and resistance levels and be wary of any sudden developments that could impact price action.
