The Nasdaq has shown a robust bullish signal as it receives backing from Moving Average (MA) and MACD indicators. The index’s price has stabilized above the MA line, indicating that a consistent upward trend is beginning to form.
Additionally, the MACD indicator reinforces this signal, as the MACD line crosses above the signal line, and the positive histogram widens, suggesting an accelerating buying momentum.
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In line with the one-hour chart analysis, the 15-minute chart also displays buying signals, as the MACD indicator remains in the positive territory, potentially supporting Nasdaq’s upward movement. If this scenario unfolds, Nasdaq could have the opportunity to test the resistance level of 22,108.
Technical Reference: buy while above 21,795
Potential Take Profit Level 1: 21,053
Potential Take Profit Level 2: 21,108
Potential Stop Loss Level 1: 20,860
Potential Stop Loss Level 2: 20,795
