NASDAQ-100 Daily Forecast Feb 28

Stock-123654

The NASDAQ-100 continued its bullish momentum yesterday, printed support at the 3659 levels. This development leaves the index targeting the 3780 levels, a halt is likely, but a break of the 3780 levels will turn focus on the 3880 levels, further out will aim the psychological level 4000.

On the downside, a bearish correction to the 3680/90 levels is likely before attacking the 3780 levels, losing the 3680 will pave the way towards the main support at the  3659 levels , a halt is strongly suggested , but If this level fails , expect the stock to decline towards the 3635 levels , a cut will open the 3557 levels , more losses will aim the 3477 levels.

In all, as long as support 3659 holds on a daily basis, the NASDAQ-100 index will remain biased to the upside with risk towards the 3780 levels ahead of the 3880 levels, losing the 3659  levels will reverse risks towards the 3635/3557 levels.

 

NASDAQ-100 Daily Forecast Feb 28

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