Breaking News
Investing Pro 0
Cyber Monday Extended SALE: Up to 60% OFF InvestingPro+ CLAIM OFFER

NASDAQ 100 Testing Trend Line

By Fawad RazaqzadaStock MarketsMar 01, 2022 10:19AM ET
www.investing.com/analysis/nasdaq-100-testing-trend-line-200619042
NASDAQ 100 Testing Trend Line
By Fawad Razaqzada   |  Mar 01, 2022 10:19AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
NDX
+4.58%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

The NASDAQ 100 has reached a key resistance zone here after a sharp recovery over the last few days:

NASDAQ 100 Daily Chart
NASDAQ 100 Daily Chart


As you can see, the tech-heavy index is testing a bearish trend line around the 14200-14300 area. Here, we also have the 21-day exponential moving average coming into play.

What the bears would like to see here is a reversal, ideally a sharp one at that, to take us below Monday’s low. I would then expect a continuation to a new 2022 low thereafter if that happens.

As far as the bulls are concerned, they still need to see some further bullish price action to boost their confidence amid the ongoing situation with Russia/Ukraine. A closing break above this trend line would be a welcome sign.

All told, I am leaning more towards the bearish argument than bullish here and, as such, would be looking for bearish patterns to emerge to sell into this recovery.

NASDAQ 100 Testing Trend Line
 

Related Articles

NASDAQ 100 Testing Trend Line

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Jeff Page
Jeff Page Mar 02, 2022 12:06AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
We will have pockets of strength within a continued down trend. All the best.
Shep De
Shep De Mar 01, 2022 10:43PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Well said. Bearish overtones to market now and Powell no matter what says is not going to influence fact that Americans are wildly spending, causing great transportation usage per shocker oil beat and, yes, as another writer, just says, $140 oil is in view." That's going to put us to 380 S&P and that's 20% drop, bear market
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email