29 April 2025,02:00
Trade Of The Day
29 April 2025, 02:00
The US equity market remained range-bound as investors awaited earnings reports from key tech giants — Apple, Microsoft, Amazon, and Meta — scheduled later this week. While Tesla and Alphabet have delivered relatively strong results, investor caution persists. Upcoming tech earnings are expected to be pivotal in determining the next trend for the Nasdaq.
Technical Breakout:
Nasdaq is trading sideways, consolidating near the key resistance level of 19495.00. A breakout above this level could open the way for further gains toward the next resistance at 20140.00. However, MACD shows diminishing bullish momentum, suggesting a possible technical correction. Failure to maintain bullish momentum could see the Nasdaq retesting support around 18850.00.
Potential Risks: US-China trade tensions continue to pose a significant volatility risk for the Nasdaq.
Monitoring: Investors are advised to continue monitoring trade development between US and the world to gauge the likelihood movement for the asset classes.
Resistance levels: 19495.00, 20140.00
Support levels: 18850.00, 18055.00
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