NQ, D1

On the daily chart, the instrument is trading in the upper part of Bollinger bands. The indicator reverses upwards, and the price range remains unchanged, which indicates the correction of the uptrend. The key support is level 7342.0, the breakdown of which will let the instrument to fall down to the level of 7200.00. MACD histogram is in the positive area, keeping the buy signal. Stochastic entered the overbought area, giving is no signal for entering the market.

NQ, H4

On the 4-hour chart, the instrument tests a strong resistance of 7400.0. Bollinger bands were corrected upwards, while the price range widened, indicating the continuation of the current trend. MACD histogram is in the positive zone, its volumes grow, holding a strong buy signal. Stochastic leaves the overbought area, forming a sell signal.

Key Levels

Resistance levels: 7415.8, 7469.7, 7520.7.

Support levels: 7089.4, 7149.5, 7198.2, 7268.5, 7333.7, 7384.7.

Trading tips

Long positions can be opened from the current level with the target at 7470.0 and stop loss 7375.0. Implementation period: 1–2 days.

Short positions can be opened below the level 7370.0 with the target at 7310.0 and stop loss at the level of 7390.0. Implementation period: 1–3 days.

NASDAQ100 index of the American stock exchange

BuySellSpread
7117.47111.460

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point7396.5
Take Profit7470.0
Stop Loss7375.0
Support levels7089.4, 7149.5, 7198.2, 7268.5, 7333.7, 7384.7, 7415.8, 7469.7, 7520.7

Alternative scenario

RecommendationsSELL STOP
Entry Point7369.0
Take Profit7310.0
Stop Loss7390.0
Support levels7089.4, 7149.5, 7198.2, 7268.5, 7333.7, 7384.7, 7415.8, 7469.7, 7520.7
NQ: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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