Nasdaq chart check: stabilization upwards - SMA50 in focus

Nasdaq chart check: stabilization upwards - SMA50 in focus

The Nasdaq index showed a price in the range of 17,282 points yesterday morning. Over the course of the day, the index moved mostly sideways in a tight box. When official trading began, there was initially a dynamic downward movement. However, the Nasdaq was able to stabilize and recover around 17,150 points, which lasted until the evening and took the index above 17,300 points, where it consolidated at the end of the day. On the 1-hour chart, the Nasdaq was below the SMA20 in the morning. Due to the sideways movement, the index initially managed to rise above this average line. Despite a brief move below the SMA20 at the start of trading, the Nasdaq was able to quickly reverse and trend upward again. In the evening, the index reached the SMA50 area.

These movements on the hourly chart indicate a brightening. If the Nasdaq manages to not only close above the SMA50, but also move dynamically upwards, the probability that the index will head for the SMA200 could increase. However, it remains to be seen whether the Nasdaq will be able to establish itself above it. Trading always involves risks and it is important to act responsibly. CFDs as leveraged products are not suitable for every person as the leverage can multiply the potential profits but also losses. It is advisable to consider whether you understand how CFDs work and whether you can afford to take the high risk of losing money. It should be noted that the authors may be invested in the values ​​discussed. This information is an advertising communication and not a financial analysis that meets all legal requirements for the neutrality of financial analyses.