NAS100 NDX Technical Analysis: Today, the index is trading in a weak downtrend, as the index rose from the level of $19,696 to its highest price so far at $19,919, while it is currently trading at $19,864. This performance reflects slight fluctuations in the downtrend.
NAS100 NDX Technical Analysis: Technical Analysis
Moving Average Indicators
It is clear that the index is trading above the moving average indicators, which enhances the possibility of an upward trend. This situation indicates the presence of purchasing power trying to support prices, despite the general downward trend.
MACD Indicator
Looking at the MACD indicator, we find that it shows weakness in the negative direction, which enhances the positive possibilities of the index. This signal reflects the possibility of a shift towards the upside in the event of an improvement in the purchasing momentum.
Forecast for the Index During the Day
The Nasdaq Index is expected to continue to fluctuate within a narrow range. If it manages to sustain above $19,800, we could see an attempt to regain the uptrend. If it breaks the support level at $19,800, the index could head towards $19,750.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 19927 | 19787 |
| Target Point 1 (TP1) | First resistance: 19994 | First support: 19739 |
| Target Point 2 (TP2) | Second resistance: 20050 | Second support: 19700 |
| Stop Loss (SL) | 19787 | 19927 |
The Nasdaq remains in a weak downtrend with positive signals supporting a possible upside turn. It is essential to monitor support and resistance levels to determine optimal entry and exit points in the market, paying attention to any changes in demand strength.
