The NASDAQ continues to exhibit a positive trend backed by strong support from the Moving Average (MA) and a recently formed bullish channel seen over several trading sessions. The price movement remaining above the MA line indicates a robust bullish momentum, while the bullish channel further solidifies the outlook for potential upward movements. Should this trend persist, NASDAQ could be on the verge of testing the next resistance level shortly.
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The MACD (Moving Average Convergence Divergence) indicator provides a positive confirmation of NASDAQ’s upward potential within a 15-minute timeframe. Following a bullish crossover between the MACD line and the signal line, the buying momentum is increasingly strong, indicating that the market is set to move higher. Additionally, the expanding MACD histogram reflects an increase in positive trend strength. If the plan aligns, NASDAQ may have the chance to test the resistance level of 21,905.
Technical Reference: buy as long as it remains above 21,640
Potential Take Profit 1: 21,848
Potential Take Profit 2: 21,905
Potential Stop Loss 1: 21,705
Potential Stop Loss 2: 21,640
