Best Opportunities, Vision and Technical Analysis for The NASDAQ100 15 April 2019
2019-04-14 11:00 pm | Resource: Technical Analysis | No Views : 155
Time frame Used - four hours
The NASDAQ 100 is moving in a bullish direction in the near term.
Bulls managed to push the NASDAQ 100 index to hit 7640 the resistance level as we expected in the previous report as the NASDAQ 100 faced resistance around the upper boundary of the up channel to retreat again downwards.
In view of the technical indicators
Both the RSI and Stochastic are indicating to weakness of the indicators.
Therefore, we expect that the NASDAQ index will fall below 7602 level to target 7510 level, and this scenario fails in case of stabilize above level of 7602.
The alternative scenario is that the NASDAQ 100 test level of 7660.
Resistance: 7640 - 7660 - 7700
Support: 7602 - 7510 - 7422
Stocks and indices Analysis
US markets opened lower on Monday as investors focused on growing concerns over a US ban on Huawei. Earlier, a number of companies, including Google technology giant, decided to suspend work with Huawei, due to the decision of the Ministry of Commerce to add the Chinese company to the black list of trade. Tesla shares fall 5% to their lowest level since December 2016 Tesla shares fell on Monday after…
- European stocks were mixed amid uncertainty over Britain's exit from Europe 08:51 am2019-05-20
- Asian stocks rose at the start of trading despite continuing trade tensions 02:07 am2019-05-20
- Wall Street rallies fall despite car tariff delay 02:40 pm2019-05-17
- European shares open lower ahead of eurozone data 08:06 am2019-05-17
- Stock trading in Asia mixed with focus on the US-China trade war 06:40 am2019-05-17
- Wall Street rises despite sharp US-China trade row 02:38 pm2019-05-16
- European stocks opened lower and focus on trade developments 07:55 am2019-05-16
- Asian and Pacific stocks diverge as trade conflict continues 06:34 am2019-05-16
- US stocks offset some losses after optimism about the trade conflict 03:05 pm2019-05-15