After a series of strong gains that pushed the Nasdaq 100 to its highest levels in two weeks, the index has begun to show signs of losing upward momentum, with prices holding steady below the 19661 resistance level and retreating slightly below the 19488 level. This technical slowdown raises questions about the possibility of a technical correction in the near term.
Nasdaq 100 Index : Technical Overview of Price Action
- Current Price: 19370.09
- Near-term trend: Sideways bearish
- Current resistance: 19488.99
- Key immediate support: 19313.51
The index has retreated from its all-time high of 19661.51 and is now trading at the lower boundary of the consolidation zone, placing it at a technical crossroads between continuing the upward trend or beginning a downward correction. Technical Analysis
Technical Indicators:
- MACD: Losing upward momentum and approaching the zero line, indicating near-term neutrality.
- Stochastic: Trending down from levels above 70, supporting the possibility of a temporary price decline.
Expectations and Possible Scenarios
Positive Scenario (Breakthrough):
- If the price stabilizes above 19488, the indicator may target a retest of 19661 and then 19750 in the short term.
Negative Scenario (Corrective):
- A break of 19313 may lead to an acceleration in selling, targeting 19100 and then 18991 as subsequent support.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 19488.99 | 19113.51 |
| Target Point 1 (TP1) | First resistance: 19661.51 | First support: 18981.58 |
| Target Point 2 (TP2) | Second resistance: 19720.45 | Second support: 18820.45 |
| Stop Loss (SL) | 19113.51 | 19488.99 |
The Nasdaq 100 index is entering a critical phase after a strong rally and repeated testing of resistance at 19,661. Signs of declining technical momentum may signal the beginning of a potential correction. Maintaining support at 19,313 will maintain the positive scenario, while a break above it could change the short-term trend.
