Long position on NASDAQ next week: Target the upside potential
- Key Insights: Traders should look for the NASDAQ to maintain its support
levels while navigating through current market uncertainties. The potential
for upward momentum exists if the index holds above the key support levels.
Focus on call options for QQQ to capitalize on expected rebounds.
- Price Targets:
- Next week targets: T1: 22,000, T2: 22,550
- Stop levels: S1: 21,366, S2: 20,700
- Recent Performance: The NASDAQ has shown a blend of volatility and cautious
gains. Despite some mixed results in earnings from major tech players and
external pressures, the index has managed to stabilize with fractional
gains, indicating resilience in the face of market uncertainty.
- Expert Analysis: Market experts remain cautiously optimistic, noting the
NASDAQ's ability to hold near significant support levels is crucial for
bullish momentum. Technical indicators suggest a potential bounce-back
opportunity if resistance levels are breached, with market structure staying
broadly intact despite geopolitical and inflationary concerns.
- News Impact: Disappointments in earnings from key tech firms like Google have
raised investor concerns, impacting the broader market. Ongoing tariff
negotiations are also a cause for caution, influencing market volatility as
investors weigh risk assets closely. Collectively, these factors present
both risks and opportunities for traders engaging with the NASDAQ in the
upcoming week.
