NAS100 NDX Technical Analysis: Downtrend

NAS100 NDX Technical Analysis: The Nasdaq Index is witnessing downward movements today, as it recorded its highest price so far at 20855 and its lowest price at 20520, and is currently trading near the 20610 level. This price movement indicates selling pressure on the index, reflecting the weak upward momentum in the market.

NAS100 NDX Technical Analysis: Technical Analysis

Moving Averages:

The index is currently trading below the main moving averages, which supports the idea of ​​a downtrend. Trading prices below these moving averages is evidence that the general trend of the market is down at the present time, as these averages represent important resistance levels that hinder any upward attempts.

MACD Indicator Analysis:

MACD Indicator shows clear negative signals as the MACD line is trading below the Signal Line, which reinforces expectations of a continuation of the downtrend. This negative signal indicates weak short-term buying momentum and increases the chances of further price declines.

Future Outlook:

Based on the current technical analysis, the Nasdaq is expected to remain in a bearish trend in the short-term, with a potential test of the nearby support levels at 20500. If the index fails to regain the bullish momentum and break above the moving averages, we may see further declines towards lower levels.

NAS100 NDX Technical Analysis

Trading strategies levels on Buy/Sell level

ND100 In case of buying in case of selling
Entry point 20864 20457
Target Point 1 (TP1) First resistance: 21000 First support: 20258
Target Point 2 (TP2) Second resistance: 21120 Second support: 20150
Stop Loss (SL) 20457 20864

 

Through the technical analysis of the Nasdaq, we notice that the general trend of the market is currently bearish, supported by the price trading below the moving averages and negative signals from the MACD indicator. The selling pressure on the index is expected to continue in the short term, with key support levels such as 20500 being monitored as potential downside targets.

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