The following is Technical Analysis for the Nasdaq ( NAS ) for 2/10/09Nasdaq Support & Resistance Levels - February 10, 2009
Resistance Levels: 1600, 1665
The Nasdaq tested the major resistance level of 1600 today, topping out at 1598. This has been a great area to either sell or take short positions on the big nasdaq stocks. I'd expect us to trade between 1530-1590 for awhile with 1533 being a nice area to buy. The 10 day moving average is getting ready to cross the 50 day moving average once again, another bullish signal going forward. A close over 1600 could fuel another rally. For more technical analysis - Go Here
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