NASDAQ stock index continue to move in the bullish channel. At the time of publication of the forecast, the index is trading at 7151. At the moment, we should expect an attempt to fall and a test of the support level near the area of 7075. Where should we expect a rebound and the continued rise of NASDAQ quotes to the area above the level of 7365.
NASDAQ Forecast and Analysis March 6, 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 a breakdown of the 6945 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 6675. Wait for the confirmation of the growth of the stock index quotes with the breakdown of the resistance area and closing above the 7275 area.
NASDAQ Forecast and Analysis March 6, 2019 implies an attempt to test the lower boundary of the channel near the 7075 area. Then, the growth will continue to the area above the 7365 level. The support line test on the relative strength index (RSI) will be in favor of raising NASDAQ quotes. Cancellation of the growth option will be made by the fall and a breakdown of the area of 6945. This will indicate a continuation of the fall with the goal below the area of 6670.