The Nasdaq 100 has continued to record strong gains over the past few days, maintaining its trading above its moving averages, confirming the dominance of the uptrend. The index is currently trading near a key resistance level at 19,504, awaiting a new catalyst that could push it to break above 19,655 and achieve new record highs.
Technical Overview of Price Action
- Current Price: 19,390.80
- General Trend: Clearly Upward
- Nearest Resistance: 19,504.22
- Key Current Support: 19,150.29
The index has managed to break previous important resistance levels (19,150 and 19,285) and is currently holding above 19,300, supporting the continuation of the uptrend provided these levels are maintained.
Technical Analysis
Technical Indicators:
- MACD: It is still moving in the positive zone, enhancing the chances of a continued upward trend.
- Stochastic: Indicates an approaching overbought condition (>73), which could lead to a temporary calming or limited correction before the upward trend continues.
Daily Forecast – Possible Scenarios
Positive Scenario (likely):
- A break above the 19,504 resistance could push the index towards 19,655 and possibly 19,750 if the buying momentum continues.
Negative Scenario (likely correction):
- If the price fails to break above 19,504 and declines below 19,285, we may witness a correction towards the 19,150 support level.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 19504.22 | 19150.29 |
| Target Point 1 (TP1) | First resistance: 19655.90 | First support: 19028.95 |
| Target Point 2 (TP2) | Second resistance: 19700.54 | Second support: 18950.40 |
| Stop Loss (SL) | 19150.29 | 19504.22 |
The Nasdaq 100 index is showing strong upward momentum, but its approach to critical resistance calls for caution, as it may require some consolidation or correction before resuming its upward trend. Confirming the breakout above 19,504 with an hourly candle close will enhance the chances of the uptrend continuing.
