The Nasdaq 100 (ND100) opened today’s trading near the 18,930 level, after a period of relative stability within a consolidation range supported by a short-term upward trend. The index witnessed a significant recovery after a sharp decline in early April, reflecting the gradual return of confidence among investors in US technology stocks.
Technically, buying signals are emerging on the MACD and Stochastic indicators, enhancing the chances of continuing the upward trend towards key resistance levels. Furthermore, the fast moving averages indicate a bullish bias at the moment.
Current Trading Prices
- Current Price: 18,959 points
- Expected Range: 18,831 – 19,151 points
- General Trend: Upward with Nearby Resistances to Watch
ND100 Index Technical Analysis
The H1 chart shows a bullish pattern forming above the 50-period Simple Moving Average (SMA), with a clear hold above the technical support level of 18,857 points, reinforcing the temporary positive outlook.
Supporting Technical Indicators:
- MACD is heading for a positive crossover, indicating the beginning of a new upward momentum.
- Stochastic is moving upward near the 60 level, below overbought levels, supporting the upward continuation.
- Moving Averages (EMA 20 and 50) have crossed positively, supporting the uptrend.
Today’s Technical Outlook
If the price successfully breaks the resistance level of 18,959 and holds above it, we may witness a rapid rally towards 19,151 and then 19,561 points. If the support level of 18,857 is broken, the index may retest the 18,831 area and perhaps temporarily lower.
Technical Recommendation:
Likely Scenario: The upward trend will continue as long as the price stabilizes above 18,857.
Today’s Strategy:
- Buy on a correction toward 18,880 – 18,860
- First Target: 19,150
- Second Target: 19,560
- Stop Loss: Breaking 18,820 with an hourly candle
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 is heading for further gains, supported by positive momentum on technical indicators and steady trading above key support levels. With strong US economic data awaiting, significant volatility is expected during today’s session.
Traders are advised to exercise caution during news releases and monitor price action near critical resistance levels.
