NASDAQ stock index continue to move in the bullish channel. At the time of publication of the forecast, the index is trading at the level of 7101. At the moment, we should expect an attempt to fall and a test of the support level near the area of 7020. Where should we expect a rebound and the continued rise of NASDAQ quotes to the area above the 7505 level.
NASDAQ Forecast and Analysis February 28, 2019
In favor of the growth of quotations of the stock index will test the support line on the indicator (RSI). The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the growth rate of the index quotes will fall and the breakdown of the 6970 area. This will indicate a breakdown of the lower boundary of the upward channel and the continuation of the fall of the NASDAQ with a target below 6670. Wait for confirmation of the growth of the stock index quotes with the breakdown of the resistance area and closing above the 7180 area.
NASDAQ Forecast and Analysis February 28, 2019 implies an attempt to test the lower boundary of the channel near the 7020 area. Then, the growth will continue to the area above the 7505 level. The support line test on the relative strength index (RSI) will be in favor of raising the NASDAQ quotes. A fall in the growth option will be canceled and a breakdown of the 6970 area will be indicated. This will indicate a continuation of the fall with the target below the 6670 area.