Current price: 29510
Key point: 29440
Our preferred strategy: Buy positions above 29440 with a first target of 29845 and then a second target of 30225.
Alternative scenario: Stop loss and trend reversal upon breaking the 29380 level, targeting the 29080 level.
Technical commentary
The Nasdaq index managed to rise from the support level of 28680, breaking through the resistance level of 29080, then breaking through the 29440 level and breaking through the downtrend line, the high of the current month.
The price is expected to continue rising to levels of 29845 and then to levels of 30225.
