The Nasdaq has surged past the 17,200 mark, hitting its second profit target during the European session on Monday (April 7, 2025). Despite this upward movement, the index remains constrained by the 20-period Moving Average (MA 20), indicating a possible downturn. Additionally, the Stochastic indicator on the 1-hour chart is in the overbought territory and shows signs of decline.
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On the 15-minute chart, the Stochastic indicator has risen from the oversold zone, creating opportunities for a rebound. However, this rebound may present selling opportunities with a more favorable risk-reward ratio.
Technical References: sell while below 17,350
Potential Take Profit 1: 16,630
Potential Take Profit 2: 16,540
Potential Stop Loss 1: 17,350
Potential Stop Loss 2: 17,500
