Nasdaq: Dynamic change of direction in trading

Nasdaq: Dynamic change of direction in trading

The Nasdaq 100 was trading at 17,282 points yesterday morning and remained mostly in a narrow sideways movement until the afternoon. When official trading began, the index initially started downwards, but was able to stabilize and recover around the 17,150 point mark. This recovery continued into the evening and led the index to rise above the 17,300 point threshold, where it settled at the end of the day.

The 1-hour chart showed that the Nasdaq was trading below the SMA20, which was 17,315 points, yesterday morning. Over the course of the day, the index managed to stay above this average line. Despite initial moves below the SMA20 during official trading, the index managed to reverse direction and move back up. In the evening, the Nasdaq was able to climb to the SMA50, at 17,320 points.

The movement in the hourly chart suggests that there has been a brightening in the index. If the Nasdaq manages not only to stay above the SMA50, but also to continue to rise dynamically, there is a higher probability that the SMA200 mark at 17,847 points could be reached. However, it remains to be seen whether the index will be able to establish itself above this mark.

It is recommended to trade responsibly and consider the risks. CFD trading involves high risks due to leverage and is not suitable for everyone. An accurate assessment of market risks is essential to avoid financial losses. It should be noted that 76% of retail clients lose money when trading CFDs. It is important to understand how CFDs work and whether you can afford the risk of losing money.