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Chart Talks: Is Nasdaq Composite entering a rising wedge pattern?
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終了
- The $Nasdaq Composite Index (.IXIC.US)$ has rallied more than 30% since last October's lows, and some believe U.S. stocks are about to ente もっと見る
- The $Nasdaq Composite Index (.IXIC.US)$ has rallied more than 30% since last October's lows, and some believe U.S. stocks are about to enter a new bull market.
- That said, it cannot be ignored that the market is experiencing a very uneven recovery. If the macro economy falls into recession, we may soon realize that this is just a bear market rally.
Technical Analysis View
- The rising wedge pattern appears as an upward-sloping chart featuring two converging trendlines. It is often considered a bearish chart pattern that indicates a potential breakout.
- We can use indicators to help identify the pattern: Decreasing volume signals potential reversal; 50% Fibonacci level acts as a resistance level.

Questions:
1. Do you think the $Nasdaq Composite Index (.IXIC.US)$ is entering a rising wedge pattern?
2. What other observations do you have from the chart? Please feel free to share any insights you may have!

Rewards:
Insightful Investor Award: The top three posts will be given 1,000 points for each, based on the content’s originality, quality, and engagement.
Participation Award: 200 points for every mooer who publish analysis on the above event.
*Try to use chart tools (drawing tools, indicators) assist your analysisand improve your chances of winnin
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