NAS100 NDX Technical Analysis: The Nasdaq Index is trading in a downtrend today, recording its highest price so far at 21313 and its lowest price at 20984, currently trading at 21237. Technical analysis shows that the index is trading below the major moving averages, which reinforces the downtrend and confirms the selling pressures dominating the market.
NAS100 NDX Technical Analysis: Technical Analysis
Prices are currently trading below the 50- and 200-day moving averages, which indicates that the general trend in the market is down. This movement below the moving averages reflects the ongoing selling pressure in the short and medium term. It is important to follow the nearby support levels to determine the points towards which the index may continue to decline.
MACD Indicator:
MACD Indicator shows a bearish crossover and remains below the zero level, reflecting the negative momentum in the market. This signal supports the bearish outlook and confirms the continuation of selling pressures at the present time, which reinforces expectations of continued decline in the near term.
Future Outlook:
If the index continues to trade below the moving averages, it is likely to continue its decline towards the next support levels at 21000 and 20850. In case of an upward correction, the index may face strong resistance near the 21350 level.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 21367 | 21140 |
| Target Point 1 (TP1) | First resistance: 21448 | First support: 21016 |
| Target Point 2 (TP2) | Second resistance: 21510 | Second support: 20910 |
| Stop Loss (SL) | 21140 | 21367 |
Based on the current technical analysis, the bearish outlook for the Nasdaq remains intact during today’s trading session. Trading below the moving averages supports the negative trend, while the MACD indicator reinforces the bearish momentum. Investors may prefer to take short positions in the ongoing downtrend, while monitoring support and resistance levels to identify future opportunities.
