NASDAQ: Insights into Recent Price Movements

30 Apr

Following its ascent to approximately $18,451, the NASDAQ Index underwent a notable downturn, descending to the vicinity of $17,000 by April 22nd. In the aftermath, a bullish resurgence ensued, marked by a retracement phase wherein the price remained confined within the 50% to 61.8% Fibonacci levels. Notably, this retracement phase coincided with a notable resistance zone, with the added reinforcement of the 200 Moving Average on the H4 timeframe. Additionally, discernible signs of a divergence on the H4 stochastic indicator and an overbought condition have emerged, suggesting the potential for a forthcoming bearish opportunity for traders. Given the concurrent retracement trends observed in the DJ and S&P 500 indices, there exists a forward-looking anticipation for a more pronounced retracement within the NASDAQ, presenting a promising prospect for traders to capitalize on this evolving scenario.

30 Apr

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