Markets

Nasdaq 100 – The outbreak level confirmed

After the price explosion on Monday, the bulls in the Nasdaq-100® index hardly followed. Although the index reached the previous record high of 11,069 points on Tuesday, it failed to show this performance in regular trading. Yesterday, the bulls confirmed support at 10,780 points, saving the chance for a further rise.

However, the technical chart situation can now quickly cloud over if the Nasdaq-100® resets below the support at 10,780 points. In this case, a new test of the lower channel limit in the daily chart and the intermediate low at 10,370 points would be possible. Underbidding these brands would indicate an end to the multi-month upward trend and could result in price drops towards four digits.

On the upside, even a break above the all-time high of 11,069 points offers little potential. Because the index remains capped by the trend channel. Only a further push of the trend beyond the channel limit gives scope for 11,700 points. Given the momentum of the past few months, this cannot be ruled out, of course, but the likelihood of this is currently low.

Nasdaq-100® in points on the daily chart; 1 candle = 1 day (log. Candle chart)

Observation period: May 28, 2020 – July 22, 2020. Historical considerations are not reliable indicators of future developments. Source: Guidants

Nasdaq-100® in points per month; 1 candle = 1 month (log. Candle chart)

Period of observation: July 1, 2015 – July 22, 2020 Historical considerations are not reliable indicators of future developments. Source: Guidants

Investment opportunities

Turbo Bull on the NASDAQ-100® index for speculation on an increase in the index

Underlying WKN Ask price/ EUR Base price / knock-out in points lever Final valuation day
NASDAQ-100® index HZ20X0 24.61 8,025 3.82 08/31/2020
NASDAQ-100® index HZ20Y6 15.94 9,025 5.89 08/31/2020
Source: HypoVereinsbank onemarkets; As of July 23, 2020; 2:50 p.m.

Turbo Bear on the NASDAQ-100® index for speculation of a loss in the index

Underlying WKN Ask price/ EUR Base price / knock-out in points lever Final valuation day
NASDAQ-100® index HZ2UV1
5.42 11,475 17.30 08/31/2020
NASDAQ-100® index HR032G 10.39 12,050 8.99 08/31/2020
Source: HypoVereinsbank onemarkets; As of July 23, 2020; 2:52 p.m.

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The Post Nasdaq 100 – The level of the outbreak confirmed first appeared on onemarket’s blog (HypoVereinsbank – UniCredit Bank AG).

Author: Bastian Galuschka

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