Technical Analysis of the Nasdaq ND100 Index: Uptrend

NAS100 NDX Technical Analysis: The Nasdaq Index is trading in an uptrend today, as it recorded the highest trading price for the day at 21185.36 and the lowest price at 20755.79, while it is currently trading at 21102.63. This movement reflects positivity in the market, and shows that there is continuous upward momentum.

which supports the continuation of the upward trend in the short term.

NAS100 NDX Technical Analysis: Technical Analysis

  • Moving Averages: The index is trading today above the main moving averages such as the 50- and 200-day simple moving averages. This indicates that the market is maintaining a strong upward trend, as trading above these averages reflects positive signals that support the continuation of the rise.
  • MACD Indicator: The MACD indicator indicates the emergence of a positive trend, as a bullish crossover appears between the MACD line and the signal line. This signal confirms that the upward momentum may continue in the short term, which enhances expectations of price increases in the near future.

Future Outlook:

If the index continues to trade above the support level at 20750, it is likely to witness further upside towards the next resistance levels at 21200 and 21350. In case of a decline and a break below the support level of 20750.

the index may witness a correction towards lower support levels.

Technical Analysis of the Nasdaq ND100 Index

Trading strategies levels on Buy/Sell level

ND100 In case of buying in case of selling
Entry point 21167.46 20992.95
Target Point 1 (TP1) First resistance: 21248.01 First support: 20939.25
Target Point 2 (TP2) Second resistance: 21310.20 Second support: 20860.60
Stop Loss (SL) 20992.95 21167.46

 

Technical analysis of the Nasdaq index indicates a continuation of the upward trend, supported by prices trading above the moving averages and the emergence of positive signals from the MACD indicator. If trading continues above the major support levels.

the index is expected to continue the upward trend towards new resistance levels. It is important to follow these levels to identify suitable trading opportunities.

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