The Nasdaq at the opening of the American session on 4 hour charts, is trading at the key level of 13,898 zone of 7/8 of Murray and the SMA of 21, the eagle indicator is showing bearish signal.
On Tuesday there was a strong decline in the stock market in the United States and Europe, now Thursday investors are still somewhat uncertain. The increase in infections in Asia, especially in India, increases doubts about the global economic recovery and we could see a fall in the main index such as Dow Jones, Nasdaq...
During the pandemic, tech companies benefited the most from quarantines and telecommuting. The rise of the Nasdaq index and of some companies was so strong that some technology companies were even recording all-time highs.
However, investors and markets in general have been very attentive lately to the current season of corporate results reporting, such as Netflix that its stock fell 8%, which will undoubtedly affect the Nasdaq.
On the technical level, we note a key level of 13,900, if the Nasdaq 100 #NDX, breaks this level and consolidates below, a fall to the support of 13545 could occur, and if the downward pressure continues to the 200 EMA located at 13287.
Our outlook is bearish given that the technology sector in the last quarter has shown mixed results, and there could be a correction of the Nasdaq 100 index for the next few days.
Support And Resistance Levels For April 22 - 23, 2021
Resistance (1) 13,933
Resistance (2) 13,983
Resistance (3) 14,062
Support (1) 13,811
Support (2) 13,750
Support (3) 13,606
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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