Is it okay to say Nas100 is at a standstill? Will we see new highs in December?
My answer is YES. If you check this chart, we had a relapse/fall in Nas100, from the beninging' of November up until around the 06 December(ever since the new variant with the Transformers name kicked in), reason? My understand is that this New variant favors Nas... J.K, on a real note I think maybe it's because people are on their mobile apps more, interacting more on social media, netflixing a lot, maybe... that's my Fundamental judgment, I'm not so good with Fundamentals myself.
But with my technical understanding, I can see that from when Nas100 dropped it made a big Head and shoulder pattern, from somewhere around 04 November, up until it started picking up around 06/12/2021, where we have currently, a new head and shoulder pattern... there's a trendline that it has retested, the one in purple, not far from where the price is currently is, and we have now our second shoulder, so meaning Nas might make new higher highs... on the other hand it's retesting that big yellow trendline... until it breaks that trendline and the resistance above it, we can all be sure that Nas is going up. Is it safe to take the trade now? It's a 50/50. But I think we're going up with this one.. let's just wait for the confirmation and then well climb on that opportunity, but I'm taking the trade once the market opens. That's my analysis in a nutshel. Adios. Hope y'all having a great Weekend.
My answer is YES. If you check this chart, we had a relapse/fall in Nas100, from the beninging' of November up until around the 06 December(ever since the new variant with the Transformers name kicked in), reason? My understand is that this New variant favors Nas... J.K, on a real note I think maybe it's because people are on their mobile apps more, interacting more on social media, netflixing a lot, maybe... that's my Fundamental judgment, I'm not so good with Fundamentals myself.
But with my technical understanding, I can see that from when Nas100 dropped it made a big Head and shoulder pattern, from somewhere around 04 November, up until it started picking up around 06/12/2021, where we have currently, a new head and shoulder pattern... there's a trendline that it has retested, the one in purple, not far from where the price is currently is, and we have now our second shoulder, so meaning Nas might make new higher highs... on the other hand it's retesting that big yellow trendline... until it breaks that trendline and the resistance above it, we can all be sure that Nas is going up. Is it safe to take the trade now? It's a 50/50. But I think we're going up with this one.. let's just wait for the confirmation and then well climb on that opportunity, but I'm taking the trade once the market opens. That's my analysis in a nutshel. Adios. Hope y'all having a great Weekend.
