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Technical Trade Note on Nasdaq 100 - 21 September 2018

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Barry Dumas
Technical-Trade-Note

With the U.S. markets pushing higher to all time highs I am looking at the tech sector and the Nasdaq 100 index to do the same over the next couple of trading session.

We might see a short-term sell-off before the price action moves higher, but currently it is trading above its 50-day simple moving average (SMA) and above major resistance. Take note, I have adjusted my stop to accommodate more risk as the price action might move lower first.

Trade: Nasdaq 100

  • Entry (Buy): 7607
  • Stop loss: 7506
  • Target price: 7687

Screen Shot 2018-09-21 at 11.26.45

Chart Source: Bloomberg

 

Trade Now!

 

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