Nasdaq Decline: Are MA and MACD Indicating Further Drops?

The Nasdaq continues to experience a downturn, aligning with a bearish trend that is reinforced by technical indicators. Currently, prices are trading below the main Moving Average (MA), indicating a strong selling pressure. Additionally, the MACD indicator confirms bearish momentum, with an increasingly negative histogram and the MACD line positioned below the signal line.

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In line with the analysis of the one-hour chart, the 15-minute chart of Nasdaq also suggests a potential decline as the price has breached the bullish channel. The MACD indicator is now situated in the negative area, signaling a possibility of further downward momentum. Nasdaq could potentially drop to the support level of 21,090.

Technical Reference: sell while below 21,440
Potential Stop Loss 1: 21,440
Potential Stop Loss 2: 21,530
Potential Take Profit 1: 21,145
Potential Take Profit 2: 21,090