NAS100 NDX Technical Analysis: sideways trading

American session, date: 7/11/2024

Introduction and overview

This report provides a technical analysis of the Nasdaq index during the American session, focusing on trading strategies based on resistance and support levels. The index is currently trading at the level of $20680. Prices are trading above most of the intersections of the moving average, which indicates an upward trend, noting that the indicator has entered sideways trading. The MACD indicator indicates a decline in the strength of the positive trend.

NAS100 NDX Technical Analysis

Trading strategies levels on Buy/Sell level

ND100 In case of buying in case of selling
Entry point 20729 20547
Target Point 1 (TP1) First resistance: 20812 First support: 20478
Target Point 2 (TP2) Second resistance: 20872 Second support: 20448
Stop Loss (SL) 20547 20729

 

Conclusion

The technical analytical study of this data showed clear results indicating the main trends and changes in the market. The technical indicators used and graphical analysis highlight the relative strength of the assets studied, and help identify potential investment opportunities and associated risks. This technical analysis reflects the importance of integrating modern tools and technologies into the investment decision-making process to enhance efficiency and accuracy. In light of these results, investors can improve their strategies and achieve better performance in the financial markets.

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