NASDAQ Turning bullish after hitting key bottom

29 июл. 2020 г.

Good entry point for long term (daily) investors is when the NASDAQ hits the oversold level in the 4H time frame. This occurred on 24th July when the price hit the 2nd (yellow) Bollinger Band level and a level of -48 on the wave trend oscillator. Ideal entry would be in the red band (2 to 3 std dev) and oscillator below -50, but this did not occur. Retest of this bottom occurred early this morning and provides a decent entry point. TP around 11,000 for short term trade