NAS100 NDX Technical Analysis: The Nasdaq Index is trading in an upward trend today, as it recorded its highest price so far at 21629 and its lowest price at 21486. Currently, the index is trading at 21615, reflecting stability in an upward range that enhances the possibility of the positive trend continuing during the coming period.
NAS100 NDX Technical Analysis: Price Analysis
By looking at the short-term price movement, we find that the Nasdaq Index is trading above the main moving averages, which enhances the general perception of a continuous upward trend. This movement indicates that the positive momentum is still strong, which increases expectations of more gains in the near future.
Technical Analysis Using the MACD Indicator: The MACD indicator supports the upward trend, as it shows a positive intersection between the lines, reflecting more upward momentum. The MACD indicator is also trading in the positive zone, which enhances optimism for traders in light of the strong positive momentum that indicates the continuation of the upward trend.
Outlook:
The Nasdaq is expected to continue trading in an upward direction during the day, as trading above the moving averages and the positive MACD indicator reinforces the continuation of the bullish momentum. If the price continues to maintain this trend, it could head towards testing higher resistance levels, especially if the 21629 level is surpassed, which could pave the way for further gains.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 21675 | 21503 |
| Target Point 1 (TP1) | First resistance: 21764 | First support: 21444 |
| Target Point 2 (TP2) | Second resistance: 21800 | Second support: 21340 |
| Stop Loss (SL) | 21503 | 21675 |
The Nasdaq is in an uptrend supported by moving averages and MACD. Traders are advised to watch support and resistance levels carefully, with 21486 as an important support, while 21629 remains a major resistance. Continued bullish momentum enhances the chances of further gains amidst the current positive technical factors.
