Bullish trend fades as Nasdaq stock trades near key support following renewed space sector focus

Traders Union
All News
Companies
Nasdaq drops 1.52% to $90.48 today

Highlights

NDAQ maintains a bullish structure across all timeframes but faces near-term correction after a weak session and weekly pullback.
Momentum indicators signal mixed conditions, with MACD showing a buy, Stoch RSI and CCI warning overbought, and ADX indicating a weak trend.
The stock is likely to trade in a range of $87.50 to $93.50 this week, with a 50% chance of either breakout or decline.

Bullish structure holds as price remains above key averages

NDAQ is trading at $90.48, above the MA-20 ($85.16), MA-50 ($87.56), and MA-200 ($89.02), indicating sustained bullish structure across short, medium, and long-term timeframes. The Ichimoku Kijun sits at $85.91, providing immediate support below the current price. Near-term support is clustered around MA-200 ($89.02) and Kijun ($85.91), while key support lies at MA-100 ($87.34). Resistance is found at MA-5 ($91.43) in the near term and at MA-10 ($91.87) as key resistance.

Buyer dominance softens as intraday momentum signals turn mixed

Momentum signals on D1 are mixed, with MACD showing a buy signal and ADX staying neutral at a weak 15.19. RSI is moderately bullish at 60.11, but both Stoch RSI (80.11) and CCI (115.23) point to overbought conditions. BBP is strongly positive at 4.22, signalling firm buyer dominance intraday, and AO is supportive of the bullish tone. In today's session, NDAQ is down 1.52% after a weak open. Over the past week, NDAQ has fallen $1.16 (1.28%) from last week's close of $91.64. The price is positioned in the lower part of its weekly range, with weekly volatility standing at 8.26%, reflecting a steady decline from recent highs.

Neutral outlook prevails as fading momentum constrains price range

For the coming week, the expected price range is $87.50 to $93.50, which aligns with recent volatility and keeps the price well above the 52-week low ($76.55) but below the recent 52-week high ($101.79). The probability of a price increase is moderate at 50%, with a similar likelihood for decline, given that only MA-50 and RSI on W1 are bullish, while ADX is neutral and MACD on W1 shows strong sell. In the baseline scenario, NDAQ is likely to stay in a range between $87.50 and $93.50 as momentum fades. The bullish scenario sees a close above $93.50, extending toward the $95 short-term resistance. The bearish case triggers if $87.50 breaks, exposing the stock to further declines toward the low $85 area for the week.

Loading...

The tweet was deleted by the author.

But we saved everything 🙂.

Previously it was reported that investors looked past Middle East tensions to focus on corporate earnings and stabilization in technology stocks, driving a recovery in the Nasdaq. In light of current market dynamics, traders should monitor how upcoming technology earnings could influence renewed momentum or volatility in the Nasdaq, with particular attention to sector leaders' guidance and capital allocation.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.