After reaching our targeted profits NAS100 took a knock to the downside which gave us good sell entries with our setup. This week I will still be looking for buys unless there comes a break of my trendline. This stock keeps making new highs this we must keep at the back of our heads it is a good performing stock, unless some major events take place to affect it...
Last week we expected some bearish movement but the market went otherwise, this week I will be expecting a proper retest of the bullish outbreak then I shall also look for buying opportunities
Update from previous analysis
Yesterdays rally was a big move and surpassed all my anticipated re-entry points, if we can get a re-entry for day trading to the upside, we can gain some more profits riding it to my anticipated finish line...be on the look for chart patterns
This stock has broken and closed above my supply zone a retest on the level 3237.5 could give us good entries to the upside.
We can see that rejection took place on the daily time frame and going to the 4 hour time frame there is a trendline break placing us in the sell zone. will be definitely be looking to take short setups
We have experienced some supply and now a confirmation of a head and shoulder bounce seems to be pushing us more to the down side.
We have experienced a break of our Supply zone from yesterdays analysis, a proper bounce back can give us some more buying opportunities that we can take advantage of. We are still in the buy zone...
The Nas100 has proven itself over and over again to pushing higher. The market is still in the buy zone and will be following this stock closely. Also the level 10581.4 seems convincing for the stock to bounce and push to the upside.