Nasdaq 100 Prediction:
Where will Nasdaq 100 be in next week?
Nasdaq Prediction Next Week 25 - 29 Sep 2023 | Detailed Expert Analysis
1. Nasdaq 100 Index Price Levels
All-time high: 16764.86, 52-week high: 15932.05, 52-week low: 10440.64.
Nasdaq 100 This Week Opening and Closing, Weekly High, Weekly Low (18 to 22 Sep)
Week Opening on Monday: 15161.17Week Closing on Friday: 14701.10
This Week High: 15268.96
This Week Low: 14686.84
Weekly Candlestick type formed: A red candle with a long body, which is the third consecutive red candle in the weekly chart forming the "3 black crows" candlestick chart pattern.
Nasdaq 100 Weekly Chart Support and Resistance Levels
Support 1: 14600Support 2: 13700
Resistance 1: 15000
Resistance 2: 15500
2. Nasdaq 100 Candlestick Chart Analysis
Nasdaq 100 Daily Candlestick Chart Technical Analysis
NDX made a bearish engulfing candle on September 20, which was followed by a gap-down and red candle, again followed by another red candle. As evident in the daily chart above, Nasdaq 100 is at an important support level of 14550–14600, from which it has bounced twice before. Therefore, at least a small bounce in the short-term may be evident. But, as drawn in the chart, the price movement of Nadaq 100 (NDX) has made a head and shoulder pattern, which is a bearish reversal chart pattern.
A breakdown (downside price breakout) from 14550–14600 levels may see NDX price coming down to 13900 levels.
Nasdaq 100 Weekly Candlestick Chart Technical Analysis
In the weekly chart, there is a formation of higher-lows and higher-highs from last week of Dec 2022. But, the uptrend seems to halted with the formation of lower-high on Sep 2023. As drawn in the chart, the price of NDX is at a crucial support level, and if it chosees to bounce from here, the next significant resistance is 16750 once it takes out the 15930 resistance.
But, if the current important weekly support level of 14700-14600 breaks, then NDX can see 13750 levels
Nasdaq 100 Monthly Candlestick Chart Technical Analysis
In the monthly chart, there is formation of a hanging-man candlestick after five consecutive green candlesticks. The hanging-man candle, which usually appears at the end of an uptrend, signifies a bearish reversal. The hanging-man candle, with its short body inside the previous green candle's body, also forms a bearish harami pattern. The hanging-man candle is also followed by a long-bodied red candle, the so-called "confiramtion candle", which might be confirming the reversal in the trend from bullish to bearish.
Also, in the monthly NDX chart, the price has formed a lower high, which also might be indicating towards a long-term bearish price movement. If all the bearish patterns play-out then NDX might see the levels of 13700 and 12400.
3. Nasdaq 100 Prediction For Next Week
NDX Forecast Summary
The daily chart with its head-and-shoulder pattern, the weekly chart with 3-black-crows and lower-high price action, and the monthly chart with a hanging-man candlestick along with a confirmation cadle and lower-high price action all indicate a bearish price movement of NDX in the future.
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DO NOT COPY REPUBLISH OR REPRODUCE THIS ARTICLE. The text in this article is protected under Indian Copyright Act, 1957 and Digital Millennium Copyright Act (DMCA).
Copyright © NiftyPredictions.com | All Rights Reserved.
