My Thoughts on Current Markets-194

My Thoughts on Current Markets-194

By Perfectionist25 | Tech. Analysis | 20 Sep 2024


When I look at the Nasdaq weekly chart, we need to determine the supports once, such that 16,800 and 16213 will be the main support, there is a risk of selling pressure. Below 16800, Nasdaq will correct towards 16213. But those with cash in hand will have an opportunity to buy or increase their positions. Nasdaq, which continues to stay above 16800 - 16213, will pass 18024 and as I said during the 19999, i.e. 16200 - 10000 decline, we have a golden ratio that should be seen. Fibonacci 1.618 (19.999) will be seen one way or another. I will not give up on the 20000 target unless 15700 is broken. But as a technical discipline, technical analysis advises us to control the position appetite and risk according to whether 18024 is passed or not.

There is a little rotation difference in America now. Because the market is selling the technology side a bit. Therefore, the reports that come in indicate that there may be sectoral changes. Intel will produce chips for Amazon. In other words, serious investments are now being made in the chip sector. Because Nvidia's serious monopolization is being discussed. Therefore, there is a very nice upward trend in Amazon. There is a very nice upward trend in the medium and long term. But in the short term, it is on a saw. It has made a double peak, reached out a little bit above it and let itself go. Maybe there may be a cup handle search here. Pay attention to the angle and rotation discipline of Mac and Triger in the lower indicator in the fall here in 2022. Pay attention to the angles of Mac and Triger again in the bottom in 2023. When the angle in 2022 came, it reacted, albeit weakly. When the angle in 2023 came, it rose to a trend this time. The reaction was limited in the first one, but it was strong in the second one. When we see this type of indicator, we need to be in ambush. We need to be in ambush like a bull with money in hand.

So we need to get a controlled bull, not an aggressive, tough, predatory bull. Pay attention to the current lower indicator, it is similar to the angle in 2022 but below the Mac Triger. This means be controlled. By the way, when you look at the chart, the 8-week average is still below 34. While carrying the trend, 8 carried it very well and also moved above it, but right now, for example, it has broken 8 and 34 down. It is positive below the 8-week price, but since it is also below 34, it is grinding to be controlled. In other words, there is a parallel movement with the lower indicators. The result is 165.90 - 152 is the support area in Amazon. Unless the 165.90 - 152 support area is broken, it should be kept calm even if it is pressured there. Here, a risk management can be made in the form of whether the size of a bear attack will increase below 152. In this sense, Amazon, which continues to stay above 165.90 - 152, has 217 short term, 254 long term. In other words, assuming the price is at $ 186, we should not say that it will not fall to 165 - 152, if it does, we should read it in a controlled manner by cupping our hands. Unless this region is broken, unless the 217.30 target closes below 152, it will not fall off the radar. But let me warn you; the timing of going to 254.26 will not be that easy.

Qualcomm has risen from 105 to 230, is strong, relatively parabolic. The rise that started in the last months of 2023 has reached the Fibonacci 61.8 golden ratio, and at the same time, the decline in the 55-week moving average has stopped. There is significant support at 153.5 in Qualcomm. As long as it stays above 153.5, the target is 200.5 - 213.5 in technical terms. As long as it stays above 153.5, you will read it positively in the short term, you will say 200.5 - 213.5 as your target and then maybe 230. If 153.5 is broken, you will say 132.5 bear attack is coming before going to these levels but never mind, I have some reserve money, you will wait for it to come to you. I use the lower indicators especially in periods when the market is extremely volatile, in periods when it is very uncertain, to catch something forward by looking at its past figures. The decline process in 2022 is below Mac Triger, its angle is deep, it is under a serious bear attack. Pay attention to the last period, it is under a bear attack, but sometimes declines are opportunities. It is bad, saddening, and exhausting for those caught in goods, I understand them. Therefore, 153.5 is the intermediate support, 132.5 is the main support, this region can be priced as an opportunity for me. 200.5 and 213.5 are short-term targets, and the old peak of 230 can be labeled as the medium-term target. The lower indicator advises that it is still early for a bullish start. But here we have a nice opportunity graph for investors who look at this decline not from a trader's perspective but from an investor's perspective, and who can discipline themselves emotionally, that is, who can discipline their patience.

The information, comments and recommendations contained herein are not within the scope of investment consultancy. Investment consultancy services are provided within the framework of the investment consultancy agreement to be signed between brokerage firms, portfolio management companies, banks that do not accept deposits and customers. The comments in this article are only my personal comments and these comments may not be appropriate for your financial situation and risk return. For this reason, investments should not be made based on the information and comments in my articles.

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