Nasdaq H4 Technical Analysis Oct 9, 2017
Analysis Explanation
The Nasdaq Omx Group has rejected the 77.80 resistance level
In addition, the price has now broken the floor of the rising trend towards the floor of the trend channel, which should give a reaction up.
Has reacted back after the break of the rectangle formation.
There is support around 72.59, which now indicates good buying opportunities.
An established break through this support will Neutralise the positive signal.
The stock is testing the support at dollar 73.80, which may give a positive reaction.
The volume balance is negative and weakens the stock in the short term.
The stock is overall assessed as technically positive for the long term.
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