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  • Market Insights  >  Trade Of The Day

29 April 2025,02:02

Trade Of The Day

NASDAQ (NDX) Flat, Eye on Tech Earnings

29 April 2025, 02:02

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Fundamental Analysis

*The US equity market remained range-bound as investors awaited earnings reports from key tech giants — Apple, Microsoft, Amazon, and Meta — scheduled later this week. While Tesla and Alphabet have delivered relatively strong results, investor caution persists. Upcoming tech earnings are expected to be pivotal in determining the next trend for the Nasdaq.

Technical Analysis

*Nasdaq is trading sideways, consolidating near the key resistance level of 19495.00. A breakout above this level could open the way for further gains toward the next resistance at 20140.00. However, MACD shows diminishing bullish momentum, suggesting a possible technical correction. Failure to maintain bullish momentum could see the Nasdaq retesting support around 18850.00.

Potential Risks

US-China trade tensions continue to pose a significant volatility risk for the Nasdaq.

Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.

Monitoring

Keep an eye on potential trade war for further market direction by following PU Xtrader’s financial news page.

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