Nasdaq 100 bullish continuation possible? ๐๐๐
Hello, good day traders! ๐๐ค
I'm looking for a potentialย buy ๐setup for $NASDAQ 100 Index (.NDX.US)$ย , with both fundamentals and technicals to back up this analysis.
๐ฐFundamentally, Bonds looked like the lone hold-out in the recent macro theme reversing, with the dollar having topped a few weeks ago and stocks having responded bullishly to a negative CPI print that was seen as sinking stocks even further. Now that bonds look to have or be very near a point of capitulation we may have the backdrop for sustained strength in stocks. Dollar off, everything else up. However, Risk appetite notably improved this past week on Wall street. Dow Jones futures lead the charge, surging 5.89% to the highest since late August. Meanwhile,S&P500 and Nasdaq 100 futures rose 2.62% and 3.32%, respectively.
๐คOn the technical front,
1.) I'm looking for a buy entry at 3806.91 where 38.2% Fibonacci line is located.
2.) My stop loss will be at 4019.64 slightly above where the 61.8% Fibonacci line and 23.6% Fibonacci projection line are located.
3.) My take profit will be at 3491.58, where the previous low and 0% Fibonacci line are located.
Trade Entry recommendations:
Buy Entry: 11213.00๐
Take Profit: 12413.56 ๐ฒ
Stop Loss: 10440.64โ
Other tickers to recommend:
![Nasdaq 100 bullish continuation possible? ๐๐๐](https://sgsnsimg.moomoo.com/102218606/editor_image/4a8f30d67d3c35e8b74bb1eb5c8eb92e.png/bigmoo)
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment