Nasdaq has been in an uptrend for a while now and just broke out of the ascending channel to the upside. Price is at a significant level. Looks like we found our resistance area but price may rally some more to test higher levels before tanking for a retracement. that pullback and a bounce off the support area (which is current resistance) confirms a buy order.
On the other hand, what i think is likely to happen is that price tanks after testing the 13300-13500 region towards the 13000 region and possibly as low as the 12500 region. This will serve as my entry and target points, with stops at 13650.
Feel free to share opinions.
N.B. This does not serve as financial advice or a trading signal. Individual analysis adviced.
On the other hand, what i think is likely to happen is that price tanks after testing the 13300-13500 region towards the 13000 region and possibly as low as the 12500 region. This will serve as my entry and target points, with stops at 13650.
Feel free to share opinions.
N.B. This does not serve as financial advice or a trading signal. Individual analysis adviced.