NAS100 NDX Technical Analysis: The NASDAQ is experiencing strong bearish trading today, recording a high of 18,466.21 points and a low of 17,589.90 points. It currently stands around 17,643.93 points. This performance reflects a state of risk aversion in the US stock markets, with negative sentiment among investors growing.
NAS100 NDX Technical Analysis: Technical Analysis
Moving Averages:
The index is currently trading below all major moving averages, indicating a clear dominance of the downtrend.
MACD Indicator:
The MACD indicator reinforces the bearish picture, with the main line appearing below the signal line in negative territory, with the negative bars continuing to widen. This pattern indicates continued strong downward momentum with no signs of a reversal on the horizon.
Outlook and Trading Strategy:
Given current technical indicators, a sell-on-retracement strategy is preferable, with initial targets set at 17,011.91 and then 16,950.45. Stop-loss orders should be placed above 18,074.67 to effectively manage risk. However, any upward breakout of 18,335.69 should be monitored, as this could signal the beginning of a temporary correction.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 18074.67 | 17347.52 |
| Target Point 1 (TP1) | First resistance: 18335.69 | First support: 17011.91 |
| Target Point 2 (TP2) | Second resistance: 18800.74 | Second support: 16950.45 |
| Stop Loss (SL) | 17347.52 | 18074.67 |
The index continues to exhibit a strong downward trend, supported by underlying technical indicators. Traders are advised to focus on selling opportunities while being cautious of any fundamental developments that could disrupt the current trend. Risk management remains crucial amid the current market volatility.
