The technical situation of the Nasdaq100 (the index containing the 100 most important technology stocks listed on the US stock market), despite the rapid correction in recent sessions, remains positive.
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Prices, after starting 2023 near 10,700 points, began a solid bullish movement and rose to a peak of 15,284 points. From this last level, an inevitable correction then began, which pushed the market back down to near 14,700.
The primary trend is still bullish even if, before making a further leap forward, there is likely to be a physiological pause for consolidation, necessary to discharge the strong short-term overbought.
It is therefore important to hold the graphical supports located first at 14,535-14,500 and then in the 14,270-14,230 area, as this may favour a re-accumulative phase and create the premises for a new extension.
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From a graphical point of view, in fact, only a descent below 14,200 points could provoke a bearish trend reversal.
On the upside, instead, a new demonstration of strength will come with the overcoming of the barrier placed at 15,250 points: the breakout of this last level will open up further room for growth, with a first target in the 15,470-15,480 area and a second target near 15,650 points.
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The following ETFs can be used to invest in the Nasdaq100 index:
iShares Nasdaq 100, ISIN IE00B53SZB19. This ETF has €8,847m in assets under management, provides synthetic replication of the underlying (via a swap) and adopts an accumulation policy (with dividends being reinvested within the fund). The total expense ratio (TER) is 0.22% per annum.
Invesco EQQ Nasdaq-100, ISIN IE0032077012. It is an ETF which has €4,645m in assets under management, physical replication of the underlying and a distribution policy (with dividends being distributed quarterly to investors). The total expense ratio (TER) is 0.30% per annum.
Lyxor Nasdaq-100, ISIN LU1829221024. It is an ETF has €1,724m in assets under management, synthetically replicates the underlying (via a swap) and adopts an accumulation policy (with dividends being reinvested within the fund). The total expense ratio (TER) is 0.22% per annum.
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Reproduction prohibited in any form, even partial
Disclaimer
The contents of these notes and the opinions expressed should in no way be regarded as an invitation to invest. The analyses do not constitute a solicitation to buy or sell any financial instrument.The purpose of these notes is financial analysis and investment research. Where recommendations are made, they are of a general nature, are addressed to an indistinct audience and lack the element of personalisation. Although the result of extensive analysis, the information contained in these notes may contain errors. Under no circumstances can the authors be held liable for any choices made by readers on the basis of such erroneous information.erroneous information. Anyone deciding to carry out any financial transaction on the basis of the information contained in the site does so assuming full responsibility.
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