Best Opportunities, Vision and Technical Analysis for The NASDAQ100 11 March 2019
2019-03-10 11:59 pm | Resource: Technical Analysis | No Views : 68
The NASDAQ 100 index dropped by the selling pressure after released the employment data as the bears managed to push the Nasdaq 100 index back to the support level of 6995 to bounce higher in a corrective up move as it faces resistance and selling pressure around the 7000 levels forming a negative candlesticks pattern.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to weakness of the indicators and confirmation of the downside movement.
Accordingly, we expect that the NASDAQ 100 will decline to levels of 6935 - 6890 - 6833, and this scenario fails in the case of stability above level of 7067.
The alternative scenario is that the NASDAQ 100 retest level of 7067 again.
Resistance: 7000 - 7067 - 7144
Support: 6935 - 6890 - 6833
Stocks and indices Analysis
Most major markets in the US opened negative on Friday with the corporate earnings season in full swing. After GDP data in the United States. Chevron, Exxon and Ford recorded impressive results for the first quarter of 2019, while Amazon, T-Mobile and Starbucks beat analysts' expectations. Before the start of the trading session. Juljet, American Airline and Intel have also participated in their quarterly results since the beginning of…
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