Nasdaq: Sell opportunity towards the 1D MA50.
NDX has been trading within a Channel Up since July (1W RSi = 64.749, MACD = 236.300, Highs/Lows = 208.4773). Last week that pattern touched the Higher High trend line giving the first Sell Signal. The 1D RSI is on a bearish divergence similar to the late July Higher High.
Technically the index must touch at least the 1D MA50 before it resumes the bullish trend, so 8,030 is a moderate Target. Traders who can tolerate more risk may extend all the way to the Higher Low zone (green) and the 7,830 Gap Target.
See our recent successful trades on Nasdaq using this Channel:
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Technically the index must touch at least the 1D MA50 before it resumes the bullish trend, so 8,030 is a moderate Target. Traders who can tolerate more risk may extend all the way to the Higher Low zone (green) and the 7,830 Gap Target.
See our recent successful trades on Nasdaq using this Channel:
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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