The Nasdaq has shown remarkable strength throughout the year, outperforming market expectations and surprising many investment strategists. In late January 2023, the index experienced a bullish breakout, marking a significant positive signal for growth after a year-long downtrend. However, it's important to note that a bearish pattern has recently emerged, indicating potential limitations to further upside momentum. While the possibility of a false breakout cannot be ruled out, if it were to occur, it would likely be short-lived. Consequently, I anticipate a downward trend for the Nasdaq in the coming weeks. It's worth paying attention to the areas marked by green bubbles, as they represent potential levels of support where bullish investors would want to maintain control. Any significant breakdown of the lower green support area could have severe consequences for growth and overall market performance.
NOT FINANCIAL ADVICE.
NOT FINANCIAL ADVICE.
The featured content is intended to be used for informational purposes only. Everything shared here is my own opinion. It is very important to do your own analysis before making any investment based on your own personal circumstances.
Good luck!
Good luck!