Trend Lines and Support for Nasdaq, 9/25
Trend lines drawn from 9/3 (16 days), 9/21 (5 days) and today 9/25 (1 day).
The Nasdaq had a bullish run on Friday, with a steep climb marked with very few pullbacks. If that ascent were to continue, we'd have a 3.61% increase on Monday. More likely, would be a pause around the 50d MA where several top stocks are getting resistance. That would be a 1.00% increase.
A small to large pullback is also certainly possible in this volatile month of moves. The five day trend points to a 0.71% decline. The longer term trend from market peak on 9/2, points to a return to the July Support area, a 2.69% decline.
I'm keeping the June Support line and the possibility of a future decline to that point on the map. It's possible, but not likely to have that happen in one day. As a reminder, there are only two days (July 1 and 2) filling the gap between June support and July support. A fall below July support would be dangerous.
A look at the weekly QQQ with volume. It is a strong bullish candle with a tall body and small upper and lower wicks. It sets a good expectation for next week, but the market will do what it wants to do.
The Nasdaq had a bullish run on Friday, with a steep climb marked with very few pullbacks. If that ascent were to continue, we'd have a 3.61% increase on Monday. More likely, would be a pause around the 50d MA where several top stocks are getting resistance. That would be a 1.00% increase.
A small to large pullback is also certainly possible in this volatile month of moves. The five day trend points to a 0.71% decline. The longer term trend from market peak on 9/2, points to a return to the July Support area, a 2.69% decline.
I'm keeping the June Support line and the possibility of a future decline to that point on the map. It's possible, but not likely to have that happen in one day. As a reminder, there are only two days (July 1 and 2) filling the gap between June support and July support. A fall below July support would be dangerous.
A look at the weekly QQQ with volume. It is a strong bullish candle with a tall body and small upper and lower wicks. It sets a good expectation for next week, but the market will do what it wants to do.
Website: drewby.com
Twitter: twitter.com/drewrobbins
All ideas are for information purposes only. I may or may not invest in the stocks discussed. Before investing in any stock, do your research and trade using your rules.
Twitter: twitter.com/drewrobbins
All ideas are for information purposes only. I may or may not invest in the stocks discussed. Before investing in any stock, do your research and trade using your rules.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.