The following is Technical Analysis for the Nasdaq ( NAS ) for 12/21/08, 12/22/08
Nasdaq Support & Resistance Levels - December 22, 2008
Resistance Levels: 1590, 1600
Support Levels: 1557, 1535, 1500
http://stockcharts.com - Chart
The Nasdaq continues to hit resistance just below 1600 and sells off back to the 10 day moving average...this has been the trend over the past two weeks. A close over 1600 would be a breakout and the Nasdaq could then test the next resistance of 1675-1700.
Support: The Nasdaq has support at around 1557 and 1535, after that you have key support of 1500. As long as the Nasdaq stays over 1500, I am bullish.
Support: The Nasdaq has support at around 1557 and 1535, after that you have key support of 1500. As long as the Nasdaq stays over 1500, I am bullish.
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