The Nasdaq 100 Index, one of the most prominent technology indicators in the US markets, continues to record significant increases, as it is currently trading at $19,804. This rise comes amid strong support from the moving averages that the index reinforces, in addition to positive signals from the MACD indicator that indicate the continuation of purchasing power, which enhances expectations of further increases in the coming period.
Nasdaq 100 Index: Technical Outlook
By technical analysis of the performance of the Nasdaq 100 Index, we notice that the index is trading above the intersections of moving averages, such as the 50 and 100-day averages, indicating that the upward momentum is still strong. This stability above the moving averages is a clear indication of the continuation of the upward trend, as these levels provide additional support for the price.
The MACD indicator also provides a positive signal, as it shows a clear divergence between the ascending and descending lines, which enhances the purchasing momentum. These indicators indicate that buyers are still in control of the market, which reduces the chances of a strong correction in prices in the short term.
Indicators Expectations
- MACD Indicator: Indicates the continuation of the buying momentum, with positive divergence supporting the upward trend of the indicator.
- Relative Strength Index (RSI): Trading at levels close to 70, indicating that the market is still in a relatively neutral zone, with additional room to rise before reaching overbought areas.
- Moving Average Indicators: Remain supportive of the upward trend, as the indicator is trading steadily above these levels, which increases the possibility of a continued rise.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 19888 | 19685 |
| Target Point 1 (TP1) | First resistance: 20038 | First support: 19542 |
| Target Point 2 (TP2) | Second resistance: 20090 | Second support: 19490 |
| Stop Loss (SL) | 19477 | 19590 |
Based on the current technical analysis, the Nasdaq 100 is showing strong bullish momentum supported by its trading above the moving averages and MACD signals indicating continued buying power. If this momentum continues, we could see the index heading towards higher levels of $20,000. However, attention should be paid to the major support level at $19650, which could act as a retracement point in case of any minor corrections.
