The Nasdaq 100 (ND100) has witnessed significant volatility in recent sessions, influenced by several factors, most notably volatility in technology stocks and cautious investor awaiting of important economic data. Signs of weakness are emerging on the index, despite attempts to rally, but sellers remain in the battlefield.
General Market Trend and Nasdaq 100 Trading Price
- Current Price: 18,396 points
- Current Time Range: 18,093 – 18,762 points
- General Trend: Consolidated and bearish after a failed breakout of the 18,762 resistance level
- Key Support: 18,093 points
- Strong Resistance: 18,762 points
- Bearish Momentum: Clearly evident through repeated breaks of moving averages and refusal to rise from critical resistance levels.
Technical Analysis of the ND100 Index
Technical Trend:
The index is moving within a narrow sideways channel after failing to maintain the gains achieved at the beginning of the week. It now shows a downward trend with a clear decline in upward momentum.
Technical Indicators:
- MACD: Negative, with declining momentum and lower highs.
- Stochastic: Shows overbought conditions, supporting the possibility of a correction or continued selling pressure.
- Moving Averages: The price is currently below the 20- and 50-day moving averages, reinforcing a temporary downward trend.
Forecast for Today’s Session
The Nasdaq 100 appears to be in the process of retesting the support area of 18,235 – 18,093. If this area is broken, a decline towards 17,850 is highly likely.
If it holds above the current support, we may witness limited rebound attempts targeting the 18,626 area, but these attempts may face renewed rejection due to the loss of upward momentum.
Most Likely Scenario: A bearish trend with a possible weak rebound.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 19157.28 | 18697.57 |
| Target Point 1 (TP1) | First resistance: 19361.60 | First support: 18531.56 |
| Target Point 2 (TP2) | Second resistance: 19765.25 | Second support: 18451.22 |
| Stop Loss (SL) | 18697.57 | 19157.28 |
The Nasdaq 100 remains at a critical juncture today, as negative technical factors intersect with volatile sentiment in global markets. The short-term trend remains bearish unless the resistance level of 18,762 is firmly breached with clear price confirmation.
