Update: Wednesday, 02/04/2025 - 16:27 PM
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The Nasdaq is gradually recovering after hitting its lowest point in nearly seven months at 18,977. Currently, the index is trading around the 20-day Moving Average (MA20), which has recently crossed above the 50-day Moving Average (MA50). This crossover is often interpreted as a buy signal by many traders.
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On the 15-minute chart, the Nasdaq is moving within a Bullish Channel, which allows for potential upward movement in the short term as long as it remains within this pattern.
Technical Reference: buy
Potential Take Profit Level 1: 19,700
Potential Take Profit Level 2: 19,850
Potential Stop Loss Level 1: 19,400
Potential Stop Loss Level 2: 19,260
