Review: The leading technology index Nasdaq 100 rose again at the beginning of the week. There was a gap in the daily and weekly charts. But thanks to this strength, the bulls have been able to send a strong signal and have vigorously defended the steep upward trend since May. This support line runs at 10,500 points this week. Another very important support zone is around 10,300 points. The EMA50 in the daily chart runs at 10,115 points and could be a correction target.
Outlook: This week, 4 big players in the Nasdaq 100 index with Amazon.com, Apple, Facebook and Alphabet are facing new quarterly figures. The swings in the aftermarket are therefore likely to be extreme, because all values are weighted high in the index.
The long scenarios: As long as the index does not fall below the 10,300 point mark, the bulls are still in command. The 11,000 point mark represents a massive hurdle. Therefore, a daily closing price above this mark would be a strong buy signal.
The short scenarios: If the index falls below the 11,300 point mark this week, greater selling pressure should arise. Investors should therefore expect returns of up to 10,000 points or 9,800 points.
Disclaimer: The text is a column of the UBS. The content of the column is not the responsibility of 4investors and therefore does not necessarily have to agree with the opinion of the 4investors editorial team. Any liability and claims are therefore expressly excluded by 4investors!
At a glance – chart and news: Nasdaq 100 – share index