The following is Technical Analysis for the Nasdaq ( NAS ) for 12/18/08
Nasdaq Support & Resistance Levels - December 18, 2008
Resistance Levels: 1600, 1675
Nasdaq Support & Resistance Levels - December 18, 2008
Resistance Levels: 1600, 1675
Support Levels: 1580, 1540, 1500
http://stockcharts.com - Chart
The Nasdaq continues to trade in this uptrend in a bear market with pullbacks being bought near the 50 day moving average. The Nasdaq has been testing the key resistance level of 1600 but has been failing. This level will be very tough to get through but if closed over, you could have a significant move to the upside. Support for the Nasdaq remains the 50 day and 10 day moving averages which by tomorrow will be 1580 and 1540. The Nasdaq remained fairly strong today despite negative news out of Apple, great sign! For more technical analysis, Click Here
http://stockcharts.com - Chart
The Nasdaq continues to trade in this uptrend in a bear market with pullbacks being bought near the 50 day moving average. The Nasdaq has been testing the key resistance level of 1600 but has been failing. This level will be very tough to get through but if closed over, you could have a significant move to the upside. Support for the Nasdaq remains the 50 day and 10 day moving averages which by tomorrow will be 1580 and 1540. The Nasdaq remained fairly strong today despite negative news out of Apple, great sign! For more technical analysis, Click Here
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