The Nasdaq is the oldest electronic stock market in the world and the largest exchange in the United States. Nasdaq stock market was founded by the National Association of Securities Dealers (NASD) and started operations on February 4, 1971.
The term “Nasdaq” often refers to the Nasdaq Composite. It is an index of more than 3,000 Nasdaq-listed stocks that include leading technology and biotechnology companies such as Apple, Google, Microsoft, Oracle, Amazon, Intel, and Amgen.
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Contents
Nasdaq overview
According to the Wikipedia page, Nasdaq stands for National Association of Securities Dealers Automated Quotations. It is a stock exchange operated by the National Association of Securities Dealers.
Nasdaq has historically been the oldest or the first electronic exchange in the world. It is the largest stock exchange in the United States since 1999, where more than half of American companies are listed on this exchange.
The main Nasdaq exchange is located in the United States, but also has branches in other countries, Canada and Japan, and is also associated with the Hong Kong and European exchanges.
The owner of Nasdaq is the NASDAQ OMX Group which also owns the OMX stock exchange.
Index Nasdaq
- NASDAQ-100. This is index 100 largest non-financial companies listed on the NASDAQ. This index emphasizes modified capitalization weights.
- NASDAQ Bank.
- NASDAQ Biotechnology Index. The stock pool of companies listed on the NASDAQ and classified as Biotechnology or Pharmaceuticals by the Industry Classification Benchmark.
- NASDAQ Transportation Index. This is an index to measure the performance of all NASDAQ stocks in the transportation sector.
- NASDAQ Composite. Having more than 3,000 components is an indicator of the performance of technology companies and growth companies.
Websites http://www.nasdaqomx.com/.
Nasdaq technical analysis today
The Nasdaq 100 (NASDAQ: NDX) formed a high on October 21, 2021, which touched a price level of 15497 according to the chart by Tradingview.
Prices then fell 0.87% in response to Federal Reserve Chair Jerome Powell’s statement on Friday that the Fed should immediately start reducing its asset purchases. This was done following high inflation. But Powell doesn’t recommend raising interest rates because employment is still too low.
With regard to high inflation, Powell believes that it will ease next year as pressure from the COVID-19 pandemic eases.
Price on Resistance zone
The NDX price trend from June to September tends to be bullish. It is marked by the MA 9 line which is always above the MA 21 as a long MA.
The price reached its highest peak on September 7 reaching 15701. And there was a MA crossover on September 20 where the price fell with a gap to the price level of 14821.
The price had risen at the price level of 15356, but the price fell again and there was a gap with a fairly wide distance until the price was at the point of 14758.
The price fell again and formed a new low which became the support zone and entered the oversold area based on the RSI on October 4, 2021.
There was a MA crossing on October 19, where MA 9 crossed MA 21 from bottom to top. This means that there is a trend reversal confirmed by the moving average.
However, the price is now closest to the resistance area formed in early September at the range of 15694. The current price is 15355.
Meanwhile, the RSI value at level 57 indicates a price reversal after entering the overbought level of 63.45 on October 21 last.
Nasdaq 100 signal indicator
- Moving average indicates the signal to buy.
- RSI as oscillator indicates the signal to sell.
- Bollinger band indicates the price closest to the upper band, giving a signal to Sell.
- Parabolic SAR dot formation gives bullish as a signal to buy.
Nasdaq analysis Trading view
Various Nasdaq 100 trading ideas in the Tradingview trading social community. You may be interested in becoming a follower of one expert to get analysis updates.
Summary of Tradingview signals on the Nasdaq 100 at the moment is stronger giving a Buy signal.
The conclusion of the signal is that it starts from the ratio of the indicator signals that become the reference for the analysis.
Oscillator signal
There use an oscillator indicator consisting of:
- Relative Strength Index (14) 57.96 Neutral.
- Stochastic %K (14, 3, 3) 92.87 Neutral.
- Commodity Channel Index (20) 98.53 Neutral.
- Average Directional Index (14) 25.28 Neutral.
- Awesome Oscillator 221.18 Neutral.
- Momentum (10) 534.32 Sell.
- MACD Level (12, 26) 66.74 Buy.
- Stochastic RSI Fast (3, 3, 14, 14) 92.37 Neutral.
- Williams Percent Range (14) 14.28 Sell.
- Bull Bear Power 435.15 Neutral.
- Ultimate Oscillator (7, 14, 28) Buy.
Moving average signal
The next signal based on the moving average indicator includes signaling from the following indicators:
- Exponential Moving Average (10) 15210.95 Buy.
- Simple Moving Average (10) 15129.47 Buy.
- Exponential Moving Average (20) 15121.25 Buy.
- Simple Moving Average (20) 14956.76 Buy.
- Exponential Moving Average (30) 15107.98 Buy.
- Simple Moving Average (30) 15072.27 Buy.
- Exponential Moving Average (50) 15066.16 Buy.
- Simple Moving Average (50) 15188.77 Buy.
- Exponential Moving Average (100) 14794.52 Buy.
- Simple Moving Average (100) 14890.73 Buy.
- Exponential Moving Average (200) 14076.69 Buy.
- Simple Moving Average (200) 14129.29 Buy.
- Ichimoku Base Line (9, 26, 52, 26) 14941.26 Neutral.
- Hull Moving Average (9) 15543.34 Sell.
Nasdaq analysis forecast
Dailyfx forecast predicts that the Nasdaq 100 in the near future will have a pivot point value of 15344.07. Next, the value of Resistance 1 will be at the price level of 15354.93, while R2 is at the price level 15371.97, and R3 price level 15399.87. While the value of Support 1 is based on the Pivot point calculation at the price level 15327.03. While S2 at the price level 15316.17 and S3 price level 15288.27.
Furthermore, news that may affect the Nasdaq price level include:
- Chicago Fed National Activity Index (SEP) to be released on October 25.
- Dallas Fed Manufacturing Index (OCT) Low impact news.
- NY Fed Treasury Purchases 22.5 to 30 yrs. Low impact news.
- 6-Month Bill Auction, 3-Month Bill Auction. Low impact news.
- Monthly Budget Statement (SEP) released October 26.
Expert analyst forecast
While analysts from FXEmpire believe that the Nasdaq will remain bullish, following some good news from several companies including Aplabhet which is the parent of search engine giant Google. Alphabet reports a 45% year-on-year increase from $16.4 per share to $23.84%.
While Tesla Inc. is to be one of the companies that drive the Nasdaq 100. Even though the price had dropped by 1%, it finally rose again by 3.26% at the end of the session.
Another driving factor was Match Group Inc, Peloton Interactive, and Netflix, which managed to achieve gains of 10.29%, 4.61%, and 4.48%, respectively.
The bullish forecast scenario will also refer to the highest price level that becomes resistance and the support price level. If the price breaks the resistance level, the bulls will dominate, while if the support breaks, the bears will ride.
Nasdaq analysis news
The Nasdaq headline posted on the official page was about Jerome Powell’s statement emphasizing the central bank immediately tapering off. Reducing asset purchases, but not increasing interest rates.
The news will be speculation that high inflation because by a flood of cash while the unemployment rate is still high. Powell’s hope is that inflation will slow down as COVID-19 eases, even if it doesn’t raise interest rates.
Other news is that Walgreens Boots Alliance Inc WBA.O will provide a COVID-19 booster injection from Moderna Inc MRNA.O and Johnson & Johnson JNJ.N. It was a response as the United States health regulator recommended additional doses.
This is one reason for Powell’s belief not to raise interest rates, with the massive booster injection for the population, he believes the pandemic will end. Next is to follow the flow of the fact that it is likely to be a good scenario. But it can also be a bad scenario because other variants can emerge and become new threats.
Final Thought
Looking at the pattern that is forming, it is possible to analyze the expert who predicts bullish on the Nasdaq 100 may be correct. However, with a note, if there is a break of the highest level formed at the previous price level.
However, if rejection the resistance level is, it is possible that the price will decline again even if only temporarily, and move within the daily range.
Note: this analysis is only opinion or information and does not constitute investment advice. Forex, Stocks, Crypto, and CFDs are risky markets. Each investor is responsible for their investment.
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