Stock index NASDAQ continue to move within the «Triangle» model. At the time of the publication of the forecast, the index is trading at 7087. At the moment, we should expect an attempt to fall and a test of the support level near the area of 7065. Where should we expect a rebound and continued lifting of NASDAQ quotes to the area above the level of 7225.
NASDAQ Forecast and Analysis March 1, 2019
In favor of the growth of quotations of the stock index will test the support line on the indicator of relative strength index (RSI). The second signal will be a rebound from the lower boundary of the bullish channel. Cancellation of the growth rate of the index quotes will fall and the breakdown of the 7030 region. 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 the confirmation of the growth of the stock index quotes with the breakdown of the resistance area and closing above the 7155 area.
NASDAQ Forecast and Analysis March 1, 2019 implies an attempt to test the lower boundary of the channel near the 7065 area. Then, continued growth to the area above the 7225 level. The support line on the relative strength index (RSI) will be used to lift the NASDAQ quotes. Cancellation of the growth option will be made by the fall and a breakdown of the 6670 area. This will indicate a continuation of the fall with the goal below the 6670 area.