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  • Writer's picturePeet Serfontein

Analyst thoughts: NASDAQ Medium-term

VIEW RETAINED AN IMPULSIVE BULL TREND TO 15 200 / 15 350.

  • The retained illustrated view is self–explanatory.

  • Expected upside off target support at S1/Q has initiated the highlighted bull trend to TA1* over time.

  • Recent gains do not have meaningful sub-divisions and the Roman numbering is indicative.

  • The sharp and gapping gains off S2 suggest market strength, confirming a follow-through upside to TA1*

  • RSI overbought conditions can limit further immediate advances to R1 and result in a correction to S0*

  • The eventual downside off T1* can target S2.

  • Conviction: Medium to high.

  • S0* needs to hold for the immediate bull trend to remain intact.

  • An unlikely break of TA1* will have extended bullish consequences.



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