Potential Correction on NASDAQ before further uptrendPublished On: 2 July 2021, 9:30 AM | Jason Chua, Dealer
- NASDAQ has been on a strong uptrend since the start of the month, reaching yet another all-time high as tech continues to outperform the market.
- We could expect a potential pullback due to profit-taking before further upside. Currently, NASDAQ is on an ascending channel. A break on the downside could show potential correction back to around 13,500 level.
- Bulls could wait for a correction for a better entry before entering into their trade, while bears should look out for a potential breakout on the current ascending channel.
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