Nas100:Completion of recent correction and we might see a bounce
Hello friends, we back again. My previous expectations on Nas100 didn't go as I expected, instead price continued to decline. I had to take a closer look at it once more and also going deeper into the history of the index.
Many times the index corrected itself deeply, that gave greater opportunity for investors and price rallied thereafter. Without surprise we saw the index bound up within a wedge formation from November 2021 and price had to swing up and down within the wedge.
So what I present here is merely an idea and this idea or perspective is mine alone. You making investment decision from this should spring from your own choices and decisions.
Looking back to recent history, we see that price corrected itself in January 2021 after a strong impulse (I), the correction wiped off at least 12.55% of the index gains.
In April 2021, we see another correction which wiped off 8.23% of the index gains.
In September 2021 the index corrected itself again wiping off 8.70% of it's gains.
Looking at the recent correction, we see that Nas100 dropped with at least - 10.28%.
Should we expect more decline?
Yes, No?
Please share with me your thoughts in the comment section below. Let's share ideas friends. Remember not to take mine as conclusion to invest.
I have a feeling, that we could see Nas100 bouncing up around 15000-15080 level and that this could be the last bottom for January 2022, seeing that it has nearly reached the 200MA.
If you like my thoughts here, please show your appreciation with likes.
Many times the index corrected itself deeply, that gave greater opportunity for investors and price rallied thereafter. Without surprise we saw the index bound up within a wedge formation from November 2021 and price had to swing up and down within the wedge.
So what I present here is merely an idea and this idea or perspective is mine alone. You making investment decision from this should spring from your own choices and decisions.
Looking back to recent history, we see that price corrected itself in January 2021 after a strong impulse (I), the correction wiped off at least 12.55% of the index gains.
In April 2021, we see another correction which wiped off 8.23% of the index gains.
In September 2021 the index corrected itself again wiping off 8.70% of it's gains.
Looking at the recent correction, we see that Nas100 dropped with at least - 10.28%.
Should we expect more decline?
Yes, No?
Please share with me your thoughts in the comment section below. Let's share ideas friends. Remember not to take mine as conclusion to invest.
I have a feeling, that we could see Nas100 bouncing up around 15000-15080 level and that this could be the last bottom for January 2022, seeing that it has nearly reached the 200MA.
If you like my thoughts here, please show your appreciation with likes.
