Nasdaq Extends Gains as Tech Earnings Fuel Optimism
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25 April 2025,06:41

Trade Of The Day

Nasdaq Extends Gains as Tech Earnings Fuel Optimism

25 April 2025, 06:41

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Fundamental Analysis:

Asian equities tracked Wall Street higher, led by tech-heavy Nasdaq after Alphabet posted strong quarterly earnings, with shares jumping nearly 5% in after-hours trade. Broad market sentiment was boosted by expectations of Fed rate cuts, especially after Governor Christopher Waller expressed willingness to support easing if trade tariffs begin to hurt employment and growth. Despite unresolved US-China tensions, risk appetite remains firm.

Technical Breakout:  

Nasdaq is trading higher and approaching the 50% Fibonacci retracement level at 19460.00. MACD signals growing bullish momentum, while RSI at 53 confirms the upward bias as it stays above the midpoint. A breakout above 19460.00 may trigger further upside toward 20105.00. However, failure to hold above this level could lead to a pullback toward the next support at 18815.00.

Potential Risks: Persistent U.S.-China trade tensions remain a major source of market volatility.

Monitoring: Investors are advised to continue monitoring trade development between US and the world to gauge the likelihood movement for the asset classes.

Resistance levels: 19460.00, 20105.00
Support levels: 18815.00, 18015.00

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