SpaceX historic $2.1T IPO debut contrasts steep weekly decline for Nasdaq stock

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Nasdaq slides 1.26% today

Highlights

NDAQ is exhibiting clear bearish momentum, trading well below key moving averages across all timeframes.
Momentum signals and oscillators indicate sellers remain firmly in control, with the stock deeply oversold after a 7.6% weekly drop.
Next week’s trading is likely range-bound between $80.50 and $84.50, with a high probability of further downside toward the 52-week low.

Sustained downside momentum as key resistance caps recovery attempts

NDAQ is trading at $82.24, sharply below the MA-20 ($89.00), MA-50 ($89.03), and MA-200 ($89.71), reflecting continued downside momentum across short-, medium-, and long-term trends. The Ichimoku Kijun on D1 is at $88.19, which stands as immediate resistance above the current price. The near-term support level is the MA-100 ($87.77), while key support lies lower at the 52-week low ($77.09). Immediate resistance is set at the Ichimoku Kijun ($88.19), with key resistance at the MA-200 ($89.71).

Intensifying bearish momentum as weekly losses deepen and volatility rises

Momentum indicators on D1 show strong bearish pressure, with MACD signaling a persistent sell bias and ADX indicating a weak trend. RSI is at 36.3 with Stoch RSI and CCI both in deep oversold territory, highlighting stretched downside conditions. BBP suggests sellers are firmly in control intraday. In today's session, the stock has declined 1.26%, continuing a sharp weekly descent. NDAQ is trading at $82.24, down from $88.98 a week ago, reflecting a steep 7.57% drop. Price sits at the very bottom of the weekly range, and weekly volatility stands at 12.6%, underscoring a pronounced, steady slide from the recent highs.

High probability of further declines as downside risk dominates range

For the coming week, the expected trading range is $80.50–$84.50, anchored slightly above the 52-week low and substantially below the 52-week high. The probability of a further price decrease is very high (more than 80%), while a sustained rebound is far less likely. The baseline scenario is continued sideways or range-bound movement with strong downside risk. A bullish break above $84.50 could initiate a recovery toward resistance, but this is unlikely unless momentum dramatically shifts. Conversely, a break below $80.50 would expose the area near the 52-week low and could lead to further losses, given prevailing bearish signals on both D1 and W1 timeframes.

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Previously it was reported that Nasdaq futures rebounded as market focus shifted from the Federal Reserve's policy stance to relief over the U.S.-Iran agreement and falling oil prices. With the current environment still shaped by both lingering inflation concerns and evolving geopolitical developments, the prevailing scenario for Nasdaq is one of cautious optimism, with traders advised to monitor upcoming central bank commentary for signs of any policy shifts.

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