Yesterday, the Nasdaq fell after disappointing growth numbers by Netflix. At the moment, how is the index trading? Gain insight into the following 18 July NAS100 Index Technical Analysis.
18 July, OctaFX – US futures pointed to a slightly lower open after the European Union gave Google’s parent company Alphabet a $5.5 billion fine. This is one of the largest penalties in the technology industry and it comes after another fine a year ago.
The EU is carrying out more investigations on Google. The current fine was because of Google’s requirement for Android carriers to preinstall its own applications like search engine and browser apps.
18 July NAS100 Index Technical Analysis
Yesterday, the Nasdaq fell after disappointing growth numbers by Netflix. The index later recovered from the losses and is currently trading at $7397, even with the large fine for Google from the EU. The current price is below 50 and 100-day Exponential Moving Average (EMA).
The RSI has fallen slightly from the overbought level of 70 and is currently at 56. As the market opens, traders will ignore the fine and focus on the earnings. This could see the index continue to move higher.
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