. Nasdaq100 Technical Analysis: Bullish Momentum Upward Channel

Nasdaq 100 Technical Analysis: Bullish Momentum, Upward Channel

16 May 2023

NASDAQ 100 TECHNICAL ANALYSIS: WEEKLY CHART 

In the weekly chart, Nasdaq 100 is trading in up channel.

Nasdaq 100 is currently trading above all SMA.

RSI is in buying zone, which shows bullishness. Stochastic is suggesting no trend.

Its immediate support is at 13345.21 & the resistance is at 13454.67

The price of the Nasdaq 100 is rising in a channel; following a price correction, the index is attempting to climb upward once more. Currently, the index is trading around a resistance level; if this level is broken, further gains are expected.

NASDAQ 100 ANALYSIS: DAILY CHART

In the daily chart, Nasdaq 100 is trading in up channel.

Nasdaq 100 is currently trading above all SMA.

RSI is in buying zone, which shows bullishness. Stochastic is suggesting no trend.

Its immediate support is at 13420.95 & the resistance is at 13476.01

The price of the Nasdaq 100 is rising in a channel; following a price correction, the index is attempting to climb upward once more. Currently, the index is trading around a resistance level; if this level is broken, further gains are expected.

TRADE SUGGESTION: – BUY AT 13476.01, TAKE PROFIT AT 13580.57, SL AT, 13421.16