USA Tech Stocks face 200-day SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Throughout the first half of March, the USA Tech stock index was looking for support in the 13,000.00 zone and the 12,975.00/13,120.00 zone. On March 15, the US Federal Reserve hiked interest rates by 0.25% instead of 0.50%. The markets took it as a signal that supply of the US Dollar would not be decreased, and a stock surge occurred, as the value of the USD declined.

On April 5, the surge of the index was making a second attempt at passing the resistance of the 200-day simple moving average and the 15,200.00 level. The SMA and the round price level acted as resistance on March 28 and caused a decline down to 14,750.00.

If the stocks manage to reach above 15,200.00 the 15,500.00 mark and a zone above it might act as resistance. Note that this zone e acted as resistance and support during the period from October 2021 up to January 2022. Further above, note the 16,000.00 mark. The round price level could act as resistance, before the index reaches the all time high level zone at 16,675.00/16,767.00.

Meanwhile, a potential decline would look for support in the 14,750.00 and 14,500.00 levels, prior to reaching the 50-day simple moving average near 14,300.00. Afterwards, the 14,000.00 and 13,500.00 levels could act as support.
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