The technical indicators Moving Average (MA) and MACD (Moving Average Convergence Divergence) are signaling a robust bullish trend for Nasdaq. The latest charts indicate that the longer-period MA is establishing a strong support level, while the MACD illustrates a significant divergence between the signal line and the histogram, indicating an intensifying bullish momentum.
Both indicators suggest the potential for higher price movements, fueling speculation that Nasdaq is poised to enter an uptrend phase soon. Furthermore, the formation of a bullish channel pattern adds to the confidence in this upward prediction.
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On the 15-minute timeframe, the Moving Average (MA) and Commodity Channel Index (CCI) indicators exhibit a sound potential for Nasdaq’s upward movement. The MA, serving as a dynamic support level, guides the price action in a bullish direction, while the CCI being in the positive zone confirms strong momentum. This combination could trigger Nasdaq to rise again and test the resistance at 21,880.
Technical References: buy while above 21,668
Potential Take Profit 1: 21,845
Potential Take Profit 2: 21,880
Potential Stop Loss 1: 21,717
Potential Stop Loss 2: 21,668
