On Wednesday (April 9, 2025), the Nasdaq displayed significant volatility in its trading patterns; however, the overall trend remains downward. The 1-hour chart shows the Nasdaq trading well below a descending trendline (indicated by the purple line).
Additionally, the 20-period Moving Average (MA 20) has crossed below the 50-period Moving Average (MA 50), a cross often interpreted by traders as a sell signal. The Stochastic indicator is trending downwards but has not yet reached oversold territory, suggesting further declines may be possible.
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On the 15-minute chart, the Stochastic indicator has entered oversold territory, which could trigger a short-term rebound. Should such a rebound occur, it would create an opportunity for a sell with a more favorable risk-reward ratio. Nevertheless, the larger trend remains tilted towards a decline.
Technical References: sell
Potential Take Profit 1: 16,720
Potential Take Profit 2: 16,500
Potential Stop Loss 1: 17,240
Potential Stop Loss 2: 17,460
