Trading Analysis of Nasdaq 100 Index
Trading Analysis of Nasdaq 100 Index
Source: PaxForex Premium Analytics Portal, Technical Insight
The Dow Jones and S&P 500 American stock indices dropped in Friday trading, while the Nasdaq gained, but showed its biggest weekly decline since the week ended October 30. The Dow Jones was down 1.8% last week. However, the indicators were up last month. The Dow Jones rose 3.2% in February. The unexpected acceleration in the sell-off in U.S. Treasuries on Thursday caused their yields to spike, sending the stock market and especially tech stocks lower.
Nasdaq 100, H4
Pivot: 13000.00
Analysis:
Provided that the index is traded below 13115.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13000.00
- Take Profit 1: 12765.00
- Take Profit 2: 12525.00
Alternative scenario:
In case of breakout of the level 13115.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13115.00
- Take Profit 1: 13355.00
- Take Profit 2: 13600.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
Resistance | Support |
13600.00 | 12765.00 |
13355.00 | 12525.00 |
13115.00 | 12100.00 |
Nasdaq 100, D1
Pivot: 12960.00
Analysis:
While the price is above 12755.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 12960.00
- Take Profit 1: 13440.00
- Take Profit 2: 13880.00
Alternative scenario:
If the level 12755.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 12755.00
- Take Profit 1: 12200.00
- Take Profit 2: 11700.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
Resistance | Support |
14650.00 | 12755.00 |
13880.00 | 12200.00 |
13440.00 | 11700.00 |