NAS100 NDX Technical Analysis is trading in a downward trend today, as it shows weakness in the downward momentum, with the continued selling pressure in the market. The index recorded the highest trading price for the day at 21263 and the lowest price at 21024, while it is currently trading near 21134. These movements indicate limited fluctuation within a downward range, reflecting the continuation of the negative trend in the market.
NAS100 NDX Technical Analysis Trading Price Analysis:
The index continues to trade below the main moving averages, which supports the negative outlook and the downward trend. This situation indicates that selling forces dominate the market, as prices continue to move without exceeding these averages, which reinforces the negative expectations for the short term.
Technical Analysis
Moving Averages: Trading below the moving averages reflects weak downward momentum and increases the possibility of continued selling pressure. If the index continues to trade below these averages, we are likely to witness further declines towards lower support levels. This also indicates that the downward trend may continue in the coming period.
MACD Indicator: The MACD indicator is indicating a negative trend, as a negative crossover between the MACD line and the signal line appears, reflecting an increase in selling pressure. This indicates weak upward momentum, and confirms that the overall trend of the indicator is still bearish. Although the bearish momentum may show some weakness, the negative trend remains dominant in the market.
Today’s Outlook:
The downtrend is expected to remain dominant in the coming hours, especially if the indicator continues to trade below the moving averages. The next support levels may be near 21024 or below, while weak momentum may lead to some volatility or correction in prices in the short term.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 21263 | 21065 |
| Target Point 1 (TP1) | First resistance: 21344 | First support: 20953 |
| Target Point 2 (TP2) | Second resistance: 21400 | Second support: 20810 |
| Stop Loss (SL) | 21065 | 21263 |
The downtrend remains dominant on the Nasdaq today, supported by prices trading below the moving averages and the MACD indicator reflecting a decline in bullish momentum. The overall outlook remains negative with a potential test of lower support levels in the near term, while monitoring any corrections or oscillations that may occur as a result of the apparent weakness in the downtrend.
