(NDX) Investment Analysis and Advice

January 04, 2024, 20:10 pm ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for NDX

• Buy NDX slightly over 15708.73 target 16519.37 stop loss @ 15663.36 Details

The technical summary data tells us to buy NDX near 15708.73 with an upside target of 16519.37. This data also tells us to set a stop loss @ 15663.36 to protect against excessive loss in case the stock begins to move against the trade. 15708.73 is the first level of support below 16282 , and by rule, any test of support is a buy signal. In this case, support 15708.73 would be being tested, so a buy signal would exist.

• Short NDX slightly under 16519.37, target 15708.73, stop loss @ 16567.08 Details

The technical summary data is suggesting a short of NDX as it gets near 16519.37 with a downside target of 15708.73. We should have a stop loss in place at 16567.08though. 16519.37 is the first level of resistance above 16282, and by rule, any test of resistance is a short signal. In this case, if resistance 16519.37 is being tested, so a short signal would exist.

Swing Trading Plans for NDX

• Buy NDX slightly over 16370.07, target 16519.37, Stop Loss @ 16322.79 Details

If 16370.07 begins to break higher, the technical summary data tells us to buy NDX just slightly over 16370.07, with an upside target of 16519.37. The data also tells us to set a stop loss @ 16322.79 in case the stock turns against the trade. 16370.07 is the first level of resistance above 16282, and by rule, any break above resistance is a buy signal. In this case, 16370.07, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NDX slightly near 16370.07, target 15708.73, Stop Loss @ 16417.35. Details

The technical summary data is suggesting a short of NDX if it tests 16370.07 with a downside target of 15708.73. We should have a stop loss in place at 16417.35 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 16370.07, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for NDX

• Buy NDX slightly over 16304.14, target 16370.07, Stop Loss @ 16266.1 Details

If 16304.14 begins to break higher, the technical summary data tells us to buy NDX just slightly over 16304.14, with an upside target of 16370.07. The data also tells us to set a stop loss @ 16266.1 in case the stock turns against the trade. 16304.14 is the first level of resistance above 16282, and by rule, any break above resistance is a buy signal. In this case, 16304.14, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NDX slightly near 16304.14, target 16155.8, Stop Loss @ 16342.18. Details

The technical summary data is suggesting a short of NDX if it tests 16304.14 with a downside target of 16155.8. We should have a stop loss in place at 16342.18 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 16304.14, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Nasdaq-100 (NDX) available here: NDX.

NDX Ratings for January 04:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	15708.73
P2	16155.8	16370.07	16519.37
P3	16304.14	16720.5	17297.81

AI Generated Signals for NDX

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Prudent Investment Analysis requires observations of the support and resistance levels for Nasdaq-100 (NYSE: NDX) too.  These define prudent trading plans.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for NDX change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if NDX is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for NDX too.  All of these are offered below the Summary Table.