Stocks Trade Mixed

NASDAQ-100 Technical Analysis Report 25 January, 2021

• NASDAQ-100 broke resistance level 13000.00
• Likely to test resistance level 14000.00

NASDAQ-100 index continues to rise inside the multi-impulse upward sequence consisting of the impulse waves (v), (iii) and 3. The price earlier broke above the key round resistance level 13000.00 (which stopped the index with the daily candlesticks pattern Bearish Engulfing at the start of January) – which added to the bullish pressure on this trading instrument.

Given the strong uptrend that can be seen on the daily NASDAQ-100 charts – NASDAQ-100 index is expected to extend the gains in the active impulse waves (v), (iii) and 3 toward the next round resistance level 14000.00 (target price for the completion of the active impulse wave 3).

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