NASDAQ potential drop and resistance lines
At the time of writing, NASDAQ has dropped from a maximum of 14076.30 of late April to a low of 12921.80 today. That is a fall of 1154.5 points. The downtrend might continue to 12700 or even 12200 as these are recent strong support/resistance lines. For comparison purposes, in previous recent drops it lost 1695 points (February/March 2021), 1301.9 points (October 2020) and 1788.4 points (September 2020).
At 12700 it would have lost 1376.3 points and at 12200 it would have been 1876.3 points. Hopefully it won't get that far down and we'll see a rally once investors considers prices are attractive enough to reverse the trend.
At 12700 it would have lost 1376.3 points and at 12200 it would have been 1876.3 points. Hopefully it won't get that far down and we'll see a rally once investors considers prices are attractive enough to reverse the trend.
כתב ויתור
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