NAZDAQ - Weekly Forecast - Technical Analysis & Trading Ideas

NDX NASDAQ
Midterm forecast:

• 20796.85 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  

Technical analysis:

• A peak is formed in daily chart at 22254.20 on 02/18/2025, so more losses to support(s) 19337.48, 18815.60, 18313.47 and more depths is expected.
  

Trading suggestion:

• There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (20554.38 to 20796.85).
  
• We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
  
• We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
  

• Beginning of entry zone (20554.38)
  
• Ending of entry zone (20796.85)
  

Take Profits:

1. 19901.88
   
2. 19337.48
   
3. 18815.60
   
4. 18313.47
   
5. 17841.19
   
6. 16988.69
   
7. 16247.08
   

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ForecastCity Support Team