The following is Technical Analysis for the Nasdaq ( NAS ) for 2/23/09Nasdaq Support & Resistance Levels - February 23, 2009
Resistance Levels: 1500, 1535
Support Levels: 1434, 1400
http://stockcharts.com - Chart
The Nasdaq was very strong today when the market turned around in the afternoon hours and managed to close over the support level of 1434.
Right now the Nasdaq has support at 1417-1420 but a break down below this range would bring a retest of 1400. I'd expect 1400 to hold unless there is really bad new out there. I will be buying anything at or below 1400 for a nice bounce. On the upside, the Nasdaq will have resistance between the 1500-1513 area and would probably stall if it gets there any time soon.
Right now the Nasdaq has support at 1417-1420 but a break down below this range would bring a retest of 1400. I'd expect 1400 to hold unless there is really bad new out there. I will be buying anything at or below 1400 for a nice bounce. On the upside, the Nasdaq will have resistance between the 1500-1513 area and would probably stall if it gets there any time soon.
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