POST CPI : Nasdaq 100 holding on to gains πŸ“ˆ

The Olympus Academy
2022-12-14

Hello, good day traders! πŸ‘‹πŸ€™

I'm looking for a potential Buy πŸ“ˆ setup for $NASDAQ 100(NDX)$ $NDX, with both fundamental and technical indicators to back it up.

β€Œ

πŸ“°Fundamentally,

  • Today's Stock Market: Indices Hold Gains Following CPI Data
  • Markets rose at the open on Tuesday after the latest CPI data showed that inflation had slowed.
  • The latest Consumer Price Inflation (CPI) data from the United States Bureau of Labor Statistics showed that inflation slowed to 0.1% on a seasonally adjusted basis in November, lower than estimates of 0.3% after a 0.4% increase in October. Overall, the CPI index for all items rose 7.1% in the previous year, exceeding expectations of 7.3%.


πŸ€”On the technical front,

1.) Looking at the H4 chart with price above the Ichimoku cloud it indicates a bullish market, I am looking for a buy entry at 11710.26, where the 38.2% Fibonacci line is.

2.) Stop loss will be at 11431.96, where the previous swing low is.

3.) I intend to take a profit at 12415.15, slightly below where the 61.8% Golden Fibonacci ratio is located.

β€Œ

Trade Entry recommendations:

Buy Entry: 11710.26πŸ“ˆ

Take Profit: 12415.15 πŸ’²

Stop Loss: 11431.96❌

β€Œ

Other tickers to recommend:

For 5x Long Leverage: $Nasdaq 5xLongSG240425A(CZFW.SI)$ 

For 5x Short Leverage: $Nasdaq 5xShortSG240425(CXEW.SI)$ 

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
39