The following is Technical Analysis for the Nasdaq ( NAS ) for 1/28/09Nasdaq Support & Resistance Levels - January 28, 2009
Resistance Levels: 1519, 1550, 1600, 1665
Support Levels: 1500, 1444, 1435, 1400
http://stockcharts.com - Chart
The Nasdaq closed above its 10 day moving average today which is a very bullish indicator. With the stock market futures up tonight, it looks as though we will close over the 50 day moving average tomorrow. This would set up a run toward 1550 and 1600. Resistance after those two levels would be the early Jan high of 1665.63 and the Election high of 1785.84.
A break below 1434 at any time would be very bearish and we'd probably retest the lows. As long as we remain over 1500, I am bullish on the Nasdaq. For More Technical Analysis - Go Here
A break below 1434 at any time would be very bearish and we'd probably retest the lows. As long as we remain over 1500, I am bullish on the Nasdaq. For More Technical Analysis - Go Here
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