- Key Insights: The NASDAQ is presently facing bearish sentiment with a
potential downturn in the short term. Investors should be aware of oversold
conditions that could lead to a short-term bounce. Cautious optimism
prevails among experts regarding a possible correction, suggesting
monitoring key resistance levels for signs of reversal.
- Price Targets: For investors considering a long position, price targets should
be strategically set.
- Next week targets: T1: 20,200, T2: 21,000
- Stop levels: S1: 19,000, S2: 18,800
- Recent Performance: The NASDAQ has fallen 12% over the past few weeks,
highlighting a bearish trend. This downturn has been mirrored across major
stock indices, and recent market volatility has exacerbated the decline.
- Expert Analysis: Analysts currently hold a bearish outlook, highlighting a
critical support level near 19,195 amidst broader economic uncertainty
affecting the NASDAQ. However, signs of a potential rally have emerged, with
futures indicating possible movement toward 20,500.
- News Impact: The downturn includes NASDAQ's worst day since 2022, which has
heavily influenced market sentiment. Analysts are monitoring the Nasdaq 100
with plans for possible expansion into the Russell 2000 and S&P 500,
targeting recovery opportunities amidst volatility.
While the NASDAQ is under pressure, the potential for a short-term recovery
remains plausible. Investors should anticipate volatility, making it crucial to
watch key price levels and resistance points for potential market movements next
week.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.