Treasury Secretary Yellen Upbeat On Economic Outlook, NASDAQ Bottoms Out
lowest forex commission–HXFXglobal reminds you:
Bitcoin & Else Cryptocurrencies Rebounded, Boosting Nasdaq’s Blockchain Sector, Leading Nasdaq To Rose
【Strategy】
Aggressors are recommended to consider marignal Long at around 14426, Target 14699, Stop-Loss by 14289. Non-Aggressors are advice to await for better entry.
【NEWS】
In early trading today, NASDAQ opened lower and moved higher, rebounding and oscillating for around 0.90%. Last Friday, as U.S. bond yields rebounded after a correction, concerns about overvaluation of tech-stocks revived, and streaming media giant Netflix (Netflix) led the decline in technology stocks with more than 20% of plunge, due to poor earnings. NASDAQ has been suppressed and closed with decline of 2.02%. However, NASDAQ has rebounded in early trading today after the plummet. In the market outlook, as Bitcoin stabilized and rebounded after falling deep to around 34,000 today, the blockchain sector of the NASDAQ has rebounded upwards. Moreover, since NASDAQ has already fell for five consecutive days from last week with the scope of 7.6%. The short-term decline has been large enough, and it’s likely to usher dead-cat-bounce in the near future. In addition, US Treasury Secretary J.Yellen made optimistic remarks on the US economy. NASDAQ is bullish in the market outlook, and the rebound trend remains unchanged.
【Technical】
In 4Hrs range, (5,10,20)MAs declines and sequenced for the Bearish path. Candlestick located in proximate to 5MA with oscillations and Doji Star. MACD shown negative volume in contraction. KD’s K up-bented and approaching to D-value. To conclude, NASDAQ’s short-term outlook do holds the potential to perform the dead-cat-bounces. Therefore, would suggest Investors to consider Bargain-Hunt NASDAQ for the best possible interest.
(Information above is purely personal opinion, doesn’t represent platform’s standpoint. This opinion can only be use as reference)
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