NQ: technical analysis 12 February 2019, 10:03
NQ: technical analysis
12 February 2019, 10:03
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 6830.0 |
| Take Profit | 6685.0, 6570.0 |
| Stop Loss | 6900.0 |
| Key Levels | 6570.0, 6685.0, 6830.0, 7040.0, 7125.0, 7180.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 7040.0 |
| Take Profit | 7125.0, 7180.0 |
| Stop Loss | 6930.0 |
| Key Levels | 6570.0, 6685.0, 6830.0, 7040.0, 7125.0, 7180.0 |
NQ, D1
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above the EMA14, EMA65 and EMA130 that start turning up, and slightly below the SMA200 which is horizontal. The RSI is approaching the border of the overbought zone. The Composite is falling, having broken down its longer MA.
NQ, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is testing from below its longer MA. The Composite is growing, having bounced off its longer MA.
Key levels
Support levels: 6830.0 (local lows), 6685.0 (local lows), 6570.0 (October 2018 lows).
Resistance levels: 7040.0 (January 2018 highs), 7125.0 (local highs), 7180.0 (March 2018 highs).
Trading tips
The price is testing its strong resistance near 7040.0. There is a chance of a downward correction.
Short positions can be opened from the level of 6830.0 with targets at 6685.0, 6570.0 and stop-loss at 6900.0. Validity – 3-5 days.
Long positions can be opened from the level of 7040.0 with targets at 7125.0, 7180.0 and stop-loss at 6930.0. Validity – 3-5 days.
On the daily chart, the instrument is trading in the upper Bollinger band. The price remains above the EMA14, EMA65 and EMA130 that start turning up, and slightly below the SMA200 which is horizontal. The RSI is approaching the border of the overbought zone. The Composite is falling, having broken down its longer MA.
NQ, H4
On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is testing from below its longer MA. The Composite is growing, having bounced off its longer MA.
Key levels
Support levels: 6830.0 (local lows), 6685.0 (local lows), 6570.0 (October 2018 lows).
Resistance levels: 7040.0 (January 2018 highs), 7125.0 (local highs), 7180.0 (March 2018 highs).
Trading tips
The price is testing its strong resistance near 7040.0. There is a chance of a downward correction.
Short positions can be opened from the level of 6830.0 with targets at 6685.0, 6570.0 and stop-loss at 6900.0. Validity – 3-5 days.
Long positions can be opened from the level of 7040.0 with targets at 7125.0, 7180.0 and stop-loss at 6930.0. Validity – 3-5 days.
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