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Market Outlook
Nasdaq regain its appeal. What’s next? - Zeal Capital Market

Nasdaq regain its appeal. What’s next?

22-07-2022 06:32

“Bulls regain their momentum on Nasdaq following strong quarterly earnings.”

US stocks pushed upwards, buoyed by improvement in investors’ sentiment and optimistic earnings results. Netflix set the tone for bulls after recent quarterly results exceed expectation in terms of EPS and number of subscribers’ loss. In addition, Tesla pushed out strong quarterly result with optimistic EPS and earnings despite slowing production activity in China due to lockdowns. Moving forward, investors will place their attention upon Fed member speeches as well as earnings report to gain more market signals.

Quick recap on NAS100

Nasdaq bottomed out around the threshold of 11,000, cutting off bears as it stages an extensive rebound.

NAS100 Weekly Technical Analysis

Nasdaq regain its appeal. What’s next? - Zeal Capital Market

From weekly perspective, MACD shows diminishing bearish momentum, with both signal line crossing towards the upside.

NAS100 Daily Technical Analysis

Nasdaq regain its appeal. What’s next? - Zeal Capital Market

Evidently, bullish momentum could also be seen in daily perspective, where we expect the index to move towards the target of 12907.

Trading Idea

Nasdaq regain its appeal. What’s next? - Zeal Capital Market

ORDER: BUY STOP

ENTRY: 13000

STOP LOSS: 12500

Target 1: 13545

Target 2: 13820

ZFX Analyst’s Comment

Bears on Nasdaq shows signs of wear-off as they bottomed out near 11,000. This stages the next bullish wave with confirmation required at 12907.

Risk Warning: The above content is for reference only, and does not represent ZFX’s position. ZFX does not assume any form of loss caused by any trading operations carried out in accordance with this article. Please be firm in your thinking and do the corresponding risk control.

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