Idxnasdaq Ixic And How Has It Performed In The Market Lately

09/10/2020

You must have noticed that there has been an incredibly ascending pattern since March when everyone saw this huge drop due to COVID 19. So, before that the NASDAQ was trading just under 10,000 and because of the global pandemic and wrong close to about 32% down to 66.77 right around that level and since then it has done an incredible job recovering the majority of those losses a recovering over 56% was even higher at around 63 to 64% at around 10,834.

It has pulled back since which we will go over on the one hour in the five-minute chart so if you were to look at where the NASDAQ index (IDXNASDAQ: IXIC at https://www.webull.com/quote/idxnasdaq-ixic) sits on the year on the month you can see that on the week it’s down close to 1.33% on the market still up over 4 1/2%. The last three months it’s up over 20% in the last six months it’s up over 11% year today the NASDAQ is up close to 15 1/2% and in the last one year it’s gone up over 24%.

Technical aspects involved in it

So, a lot of it is being driven by big tech and a lot of high growth stocks that are entity tech sectors that are going up a double-digit or even triple-digit returns. As we have seen for a lot of the stocks that are listed on the NASDAQ (IDXNASDAQ: IXIC) exchange so to go over the technical analysis now looking at the RSI after this pullback it has dropped down to 37 levels which again is seen more of an oversold level than overbought that could represent a good opportunity to kind of curl back in consolidating the push-up, higher the market value is just starting to pull back now which in the opinion of experts think that there’s going to be a little bit of consolidation moving forward.

Stock performance

Before we see an uptrend and upwards momentum for the NASDAQ if you work to kind of highlight some of those trend lines for NASDAQ on the four-hour chart is going to support because that has been the ascending low for the NASDAQ index.

So, going back as far as April 21st that’s essentially where the NASDAQ balance off the moving forward and pushed up pulled back again on May 1st. Pushed up and pulled back again on May 13 pushed up to 10,102 and this is when it hit an all-time high and pushed above the levels from back in February and January. You can do stock trading with desktop trading software.

Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.