Source: PaxForex Premium Analytics Portal, Technical Insight
U.S. stock indices rose on Monday, with the S&P 500 and Dow Jones Industrial Average reaching record highs after Moderna Inc reported on the effectiveness of its experimental COVID-19 vaccine. Moderna shares rose 9.6 percent after the company reported that its experimental vaccine showed 94.5 percent efficacy in preventing COVID-19 based on interim data from late stage clinical trials. Nasdaq rose 0.8% to 11,924.129 points.
Nasdaq 100, H4
Pivot: 11980.00
Analysis:
Provided that the index is traded above 11780.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 11980.00
- Take Profit 1: 12045.00
- Take Profit 2: 12270.00
Alternative scenario:
In case of broken-down of the level 11780.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 11780.00
- Take Profit 1: 11570.00
- Take Profit 2: 11360.00
Comment:
RSI indicates a uptrend during the day.
Key levels
Resistance | Support |
12410.00 | 11780.00 |
12270.00 | 11570.00 |
12045.00 | 11360.00 |
Nasdaq 100, D1
Pivot: 11983.00
Analysis:
While the price is above 11360.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 11983.00
- Take Profit 1: 12440.00
- Take Profit 2: 13800.00
Alternative scenario:
If the level 11360.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 11360.00
- Take Profit 1: 10960.00
- Take Profit 2: 10680.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
Resistance | Support |
14630.00 | 11360.00 |
13800.00 | 10960.00 |
12440.00 | 10680.00 |