Nasdaq 100 stock (NASDAQI:NDX) is bearish. The current bearish trend has been going on for the past several months. From February 2022, until now, sellers have consistently pushed price southwards.
Can price go upwards from here as the stock index looks so cheap now?
Price is currently above the EMA 21, and William’s % Range period 20 is sloping towards the overbought area.
We would wait for another bullish candle to form, and once William’s % Range reaches the overbought area, a clean bullish signal would have been generated (provided that price remains above the EMA 20).
The bias for Nasdaq 100 has already turned bullish and price is expected to go further higher and higher from here, reaching higher highs and lower highs and higher highs.
The next target for this index is 12,500.00, 13,500.00 and 14,000.00.
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