The Nasdaq has been exhibiting high volatility over the past couple of days and this trend continued on Friday (April 11, 2025). In the hourly chart, the Nasdaq is attempting to bounce back above the 20 Moving Average (MA 20). However, with the Stochastic indicator showing a bearish divergence, there is a potential for further decline.
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On the 15-minute chart, the Stochastic is also nearing the overbought region, which suggests a greater downward pressure. Furthermore, the Nasdaq is currently close to the upper limit of the Down Channel, thereby increasing the likelihood of a short-term drop.
Technical Reference: sell while above 18,900
Potential Take Profit 1: 18,300
Potential Take Profit 2: 18,130
Potential Stop Loss 1: 18,900
Potential Stop Loss 2: 19,070
