The stock index NASDAQ ends the trading week near the level of 7417. The index is traded inside the Ichimoku Kinko Hyo Cloud, which indicates the presence of a side trend. As part of the NASDAQ weekly forecast & analysis October 8 — 12, 2018 is expected to test the upper limit of the Ichimoku Kinko Hyo Cloud near the 7450 level, from which one can expect an attempt to rebound and the continuation of the downward trend in order to fall near the 6950 level.
NASDAQ weekly forecast & analysis October 8 — 12, 2018
An additional signal in favor of reducing the quotations of the index in the current trading week of 8 — 12, 2018 will be the test of the lower boundary of the rising channel, as well as a rebound from the resistance level. Previously, a weak signal was received for sell of the NASDAQ index, due to the crossing of signal lines at the level of 7550.
Cancellation of the fall in quotations of the stock index will be a breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the level of 7600, which will indicate a change in the side trend in favor of upward and continued growth. Waiting for confirmation of a reduction in quotations NASDAQ stands with the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and closes below the level of 7250.
NASDAQ weekly forecast & analysis October 8 — 12, 2018 suggests an attempt to test the resistance level near the 7450 area, from which we should expect a rebound and a continuation of the fall in the index quotations with a potential target near the 6950 level.