NASDAQ Technical Analysis 10 january 2019
2019-01-10 11:05 am | Resource: Technical Analysis | No Views : 39
The NASDAQ 100 is moving in a bullish direction in the near term.
The Nasdaq 100 index has achieved the first bullish target around level of 6638 where the NASDAQ is facing selling pressures around this level as the NASDAQ index started the morning trading slightly lower so far, forming a negative candlestick pattern
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area.
Accordingly, we expect that the NASDAQ 100 will drop to levels of 6361 - 6030 again, and this scenario fails in case of instability above level of 6638.
The alternative scenario is that the NASDAQ 100 breached level of 6638 higher to target the 6876 level.
Resistance: 6600 - 6868 - 7096
Support: 6361 - 6030 - 5800
Stocks and indices Analysis
Wall Street opened in the Green Zone on Friday with the Dow opening more than 150 points. Investment incentives remained higher after reports emerged that US Treasury Secretary Steve Menuchin might propose easing or eliminating tariffs on Chinese goods. The market watcher also absorbed the latest industrial production numbers released before the opening bell. At the same time, investors also focused on a series of corporate results from yesterday as…
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