US Tech 100 Index forum
NAS100 NASDAQ 24th December 2024 Daily Analysis Based on Main Key Levels
In this analysis, we will examine the current state of the NASDAQ index, focusing on key price levels and potential trading strategies.
Daily Current Market Price (DCMP)
The current market price for NASDAQ is 21,523. This serves as a crucial reference point for assessing trading opportunities.
Key Levels
Resistance (Above DCMP)
Resistance 1: 21,918
Resistance 2: 22,253
Resistance 3: 22,797
Support (Below DCMP)
Support 1: 21,374
Support 2: 20,495
Support 3: 19,951
Swing Levels
Swing High: 22,143
Swing Low: 21,311
Summary of Analysis
The NASDAQ market is currently positioned at 21,523. Key resistance levels above this price include 21,918, 22,253, and 22,797. The support levels below this price are 21,374, 20,495, and 19,951. The swing high is at 22,143, and the swing low is at 21,311.
Suggested Trades
Intraday Buy Trade
Entry Price: 21,374
Stop Loss: 21,200
Take Profit 1:21,600
Take Profit 2: 21,800
Reason for Entry
The price is approaching a key support level at 21,374, indicating a favorable buying opportunity based on technical analysis.
Intraday Sell Trade
Entry Price: 21,918
Stop Loss: 22,050
Take Profit 1: 21,700
Take Profit 2: 22,143
Reason for Entry
Resistance at 21,918 suggests a potential selling opportunity, with targets set below this level.
Conclusion
This analysis provides a concise overview of key levels and trade opportunities for NASDAQ. By monitoring these levels, traders can make informed decisions in the current market environment. Stay tuned for more insights and happy trading!
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