Nasdaq 100 is expected to move to new record highs after completing a “head & shoulders” base and as such the Credit Suisse analyst team has raised the core target from 14000/10 to 14380.
See: S&P 500 Index climbs above 4,000, further upside ahead – UBS
Nasdaq 100 has completed a base as expected for a resumption of the core uptrend
"Nasdaq 100 has broken above key resistance at 13315 to mark the completion of a ‘head & shoulders’ base as looked for. This should confirm the consolidation phase is over and we look for a resumption of the core uptrend for a move back to the 13880 high and eventually our long-held 14000/10 target. However, whilst we would look for this latter area to cap at first, we now look for a break above here also in due course for a move to our new raised target at 14380, the ‘measured objective’ from the ‘head & shoulders’ base.”
“Support moves to 13335/00 initially, with 13080 now ideally holding to maintain the base.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD continues to trade in positive territory above 1.0700
EUR/USD has managed to stay in positive territory above 1.0700 despite having retreated modestly in the early American session. ECB President Lagarde reiterated that inflation in the Eurozone is projected to remain too high for too long, helping the Euro keep its footing.
Gold falls below $1,980 as US yields rebound
Gold price has turned south and dropped below $1,980 after having rallied to a fresh multi-month high of $2,010 earlier in the day. The 10-year US Treasury bond yield has turned positive on the day near 3.5% following the sharp decline seen in the European session and weighed on XAU/USD.
GBP/USD rises to fresh multi-week highs above 1.2250
GBP/USD has gathered bullish momentum and advanced to its highest level since mid-February above 1.2250 on Monday. The US Dollar struggles to find demand following a mixed opening in Wall Street and allows the pair to cling to its daily gains.
Bitcoin price primed to revisit $33,000 as global market turmoil rages on
Bitcoin (BTC) price is rallying in a full recovery story after a harsh and long crypto winter through most of 2022.
UBS ends Credit Suisse Crisis with $3.25 billion buyout, CS stock purchased for 0.76 CHF
Credit Suisse is no more. Over the weekend the Swiss National Bank organized a buyout of the struggling bank by the only other Swiss lending giant – UBS.