- May 2, 2023
- Posted by: Tradingshot Articles
- Category: Stock Indices
Nasdaq (NDX) has gone a long way since we called for a rebound on the 1D MA200 on March 17:
Right now the uptrend has slowed down as the Channel Up that started in December has transitioned into a much less aggressive Channel Up, supported by the 1D MA50 (blue trend-line) that is targeting 13500 as part of its Higher Highs process. The 1D RSI which is trading within a Triangle of Higher Lows and Lower Highs can be a guide for buy and sell entries.
If the price breaks above the February 02 Higher Highs, we will increase our buy exposure and target the 13730 Resistance (August 16 2022 High).