NAS100 NDX Technical Analysis: The Nasdaq index is witnessing an upward movement today, as it recorded its highest level so far at 21,164 points, and its lowest level at 21,016 points, and is currently trading at 21,099 points. Despite the upward trend shown by the index, the movement is still somewhat weak, in light of the decline in positive momentum. However, in general, the upward trend remains supported by technical factors that support it.
NAS100 NDX Technical Analysis: Technical Analysis
- Moving Averages: The index is currently trading above the moving average indicators, which reflects that the general trend in the medium and long term is tending to rise. This enhances the possibility of the upward trend continuing in the short term, unless there are major changes in the factors affecting the market.
- MACD Indicator: The MACD indicator shows a positive trend, indicating the continuation of the upward momentum. However, there is clearly some weakness in the strength of the positive trend, as the indicator has started to show a slight convergence between the fast and slow lines. This signal may indicate a possible decline in the bullish momentum in the near term, and may call for a close watch on the market to determine if there are opportunities for corrections or limited price declines.
Future Outlook:
Based on technical analysis, the Nasdaq is expected to continue its upward trend in the short term, especially with prices trading above the moving averages. However, the strength of the bullish momentum should be closely monitored, as there are signs of a slight decline in the trend strength on the MACD indicator. In case the momentum weakens further, we may see a slight correction or price volatility before the uptrend resumes.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 21164 | 20962 |
| Target Point 1 (TP1) | First resistance: 21270 | First support: 20890 |
| Target Point 2 (TP2) | Second resistance: 27310 | Second support: 20875 |
| Stop Loss (SL) | 20962 | 21164 |
Despite the slight weakness in the upward momentum according to the MACD indicator, the overall trend of the Nasdaq remains bullish, supported by the price trading above the moving averages. The index is expected to continue its upward movements in the short term.
but with the possibility of minor corrections if the weakness in the positive momentum continues.
