CryptoFundManager

Nasdaq100 inverse Head and Shoulders Chart Pattern

Long
NASDAQ:NDX   Nasdaq 100 Index
Nasdaq 100 P/E ratio on May 12, 2022 was 20.71, which is below the Median of 26.59 or the Average of 30.04.
In the past 5 years, the Minimum was 15.74 on MAR 23 2020 and Maximum 86.30 on JUN 28 2017.

I have 2 scenarios:

1. Inverse head and shoulders chart pattern with a price target of $16650 by the end of the year.
2. Worst case scenario: bull trap at $13350 an retracement to the pre-pandemic level of $9750. I tend not to believe this scenario because of the too low price per earnings ratio of NDX.

Looking forward to read your opinion about it.





Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.