Current price: 24990
Key point: 24600
Our preferred strategy: Buy positions above 24600 with a first target of 25700 and then a second target of 26200.
Alternative scenario: Stop loss and trend reversal upon breaking the 24500 level, targeting the 24000 level.
Technical commentary
The index is moving in an upward direction from the low of last September, above the support level of 24600. If it breaks through the pivotal resistance level of 25200 and the 200 moving average on the four-hour timeframe, the Nasdaq will then head towards the levels of 25700 and then the levels of 26200.
