Nasdaq starts positive 5/10/2023

Positive trading dominated the movements of the Nasdaq index during the previous trading session, reflecting the expected downward trend during the previous technical report, recording its highest level of 14805.

On the technical side today, we are leaning towards positivity, but with caution, relying on the clear positive momentum signals on the 14-day momentum indicator, and this comes in conjunction with the return of the simple moving averages to carry the price from below.

Therefore, the upward trend is the most preferred during the day, with trading remaining above 14670, targeting 14910 as the first target, and then 14970, knowing that breaching 14970 extends the gains towards 15040.

From below, the return of trading stability and price consolidation below 14670 puts the index under negative pressure with an initial target of 14540.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 14540	R1: 14910
S2: 14310	R2: 15040
S3: 14170	R3: 15270