Firstly, let's do a short-term assessment of NASDAQ. Looking at the 4-hour periods, the RSI and MFI are relatively low at 33.6 and 33.96, respectively. This is often considered an indicator of overselling, suggesting we might expect a price rebound. However, with the Stochastic %K and Stochastic %D values still being low for buying, and the negative difference between MACD and its signal line, there is an indication that the downward momentum might continue. This creates a bit of a contradiction.
On the weekly data, while the RSI indicator points to a mid-level at 44.71, the Stochastic still signals an oversold market. The dominant bearish megatrend in the MACD suggests the possibility of a continued decline in the coming weeks.
Looking at the Bollinger Bands, the price is close to the lower band, which can often be a sign of a reversal. However, it's important to note that this is not a definitive indicator of a significant trend change.
For the monthly data, with RSI and MFI around 56 and Stochastic %K at 75, it might indicate a continuing upward trend. However, we see a bearish crossover happening above the MACD, which could imply potential sales increases on a monthly basis.
Looking at other indices and assets, the SP500 shows a similar downward trend, while Gold (XAUUSD) appears to be in the oversold zone. This often signifies uncertainty in the stock markets and might increase the downward pressure on NASDAQ.
Considering this data, we might see a slight recovery in NASDAQ in the short term, possibly towards the 14700-14750 band from its current level. However, in the medium and long term, the existing downward trend is likely to persist. Downward targets to consider could be in the 14200-14000 range. An upward target to watch would be around the 15000 level. It's crucial to remember that these predictions are not investment advice and markets are often unpredictable.
On the weekly data, while the RSI indicator points to a mid-level at 44.71, the Stochastic still signals an oversold market. The dominant bearish megatrend in the MACD suggests the possibility of a continued decline in the coming weeks.
Looking at the Bollinger Bands, the price is close to the lower band, which can often be a sign of a reversal. However, it's important to note that this is not a definitive indicator of a significant trend change.
For the monthly data, with RSI and MFI around 56 and Stochastic %K at 75, it might indicate a continuing upward trend. However, we see a bearish crossover happening above the MACD, which could imply potential sales increases on a monthly basis.
Looking at other indices and assets, the SP500 shows a similar downward trend, while Gold (XAUUSD) appears to be in the oversold zone. This often signifies uncertainty in the stock markets and might increase the downward pressure on NASDAQ.
Considering this data, we might see a slight recovery in NASDAQ in the short term, possibly towards the 14700-14750 band from its current level. However, in the medium and long term, the existing downward trend is likely to persist. Downward targets to consider could be in the 14200-14000 range. An upward target to watch would be around the 15000 level. It's crucial to remember that these predictions are not investment advice and markets are often unpredictable.