1
The Nasdaq Composite Index (IXIC) faced rejection from $14450 and reverted down.
2
IXIC price fell 4.89% in the current month and struggles near the 50-day EMA.
3
The bullish momentum was lost in the Nasdaq Index and $14450 became a supply zone.
Nasdaq Composite (IXIC) price fell 4.89% in the current month and displayed initial signs of a bearish trend reversal. It faced rejection from the $14450 and slowly prices eroded the complete gains of July month.
The Nasdaq Index retraces down to the 50-day EMA which indicates that the positive momentum is lost. However, the price still sustains above the 50-day and 200-day EMA showcasing uptrend.
IXIC price performed well in the past 3 months and displayed a short-term bull run. The rally is fueled by the top few technology companies like AAPL, MSFT, GOOGL, ORCL, NVDA, and a few more.
The craze of Artificial Intelligence has grabbed the attention of investors. Due to this top tech compani
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