NAS100 NDX Technical Analysis: The NASDAQ 100 Index (NASDAQ) is witnessing a downward movement during today’s trading, as the index recorded a high of 20,624 points and a low of 20,306 points, to currently trade at 20,476 points. These movements indicate continued selling pressure in the market, with a clear decline from today’s highs.
NAS100 NDX Technical Analysis: Technical Analysis
By examining the technical indicators, we notice that the index is currently trading below the main moving averages, reflecting weak upward momentum and the possibility of a continuation of the downward trend. Trading below these averages reinforces the negative outlook, as this indicates that the market may face strong resistance to any attempts to rise in the near future.
In addition, the MACD indicator is showing clear negative signals, as the index began trading below the zero line and shows a decline in upward momentum, reflecting a shift towards the downward trend. This indicates that the momentum in the market has turned negative, supporting expectations of further decline.
Possible Future of the Index:
If the index continues to trade below the moving averages, we may witness further decline towards the next support levels. The index may face a strong support level at 20,300 points, and if this level is broken, it may head towards testing 20,200 and then 20,000 points as potential targets.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 20568 | 20379 |
| Target Point 1 (TP1) | First resistance: 20637 | First support: 20285 |
| Target Point 2 (TP2) | Second resistance: 20680 | Second support: 20190 |
| Stop Loss (SL) | 20379 | 20568 |
The current technical analysis indicates that the downtrend is dominant on the Nasdaq, supported by the price trading below the moving averages and negative signals from the MACD indicator. If the index continues to maintain this negative momentum, it is expected to witness further decline towards lower support levels. It remains important to monitor key support levels such as 20,300 and 20,200 points, as these levels may determine the strength of the downtrend in the future.
