Best Opportunities, Vision and Technical Analysis for The NASDAQ100 8 February 2019
2019-02-08 09:26 am | Resource: Technical Analysis | No Views : 109
The NASDAQ 100 is moving in a sideway direction in the near term.
The bears were able to control the movement of the NASDAQ 100 index to witness further decline to reach the NASDAQ 100 index to the level of 9848 trying to consolidate above this level but so far we have not shown any indication that the correction is over these levels
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the RSI reaching the oversold area and the Stochastic continues to decline.
Therefore, we expect that the NASDAQ 100 will retest level of 6955 again, and this scenario fails in the case of instability above level of 6820.
The alternative scenario is that the NASDAQ 100 index is breaching level of 7054 higher to target levels 7227 - 7358.
Resistance: 6955 - 7054 - 7227
Support: 6820 - 6595 - 6500
Stocks and indices Analysis
European major stock markets mixed in early trade on Friday after a series of companies reported their financial results Including Deutsche Bank, Sanofi, Astra Zeneca, Total, Renault, Daimler, Royal Bank of Scotland and Sony. The largest bank in Germany reported a 67% rise in net income to 201 million euros in the first three months of 2019, beating expectations. Renault wants joint holding company with Nissan report Renault S…
- Asian stocks tumble ahead of Trump Abe talks 07:38 am2019-04-26
- Wall Street rises as unemployment claims rise 01:45 pm2019-04-25
- European shares open lower as profit season continues 08:22 am2019-04-25
- Asian markets diverge after Bank of Japan decision on interest rate 07:38 am2019-04-25
- Wall Street divergence amid corporate earnings announcement 01:58 pm2019-04-24
- Europ trading mixed with continued focus on earnings 08:36 am2019-04-24
- Asian stocks retreated as industrial activity in Japan fell 07:32 am2019-04-24
- US stocks rise amid profit announcement 03:43 pm2019-04-23
- European stocks open in red after Easter 08:28 am2019-04-23