USA Tech stocks approach low zone

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Source: Dukascopy Bank SA


Since the last review of the USA Tech stock index review, it has revealed high and low level zones, which capture its high volatility of November and December. Namely, support is located at 15,500.00/15,550.00 and resistance is at 16,670.00/16,770.00. Most recently, on January 6 the index approached the support zone.

In the case that the index passes below the support zone of 15,500.00/15,550.00, the rate could look for support in the lower trend line of the post-July 2020 channel up pattern. A move below the trend line might be stopped by the 200-day simple moving average near 15,000.00.

Meanwhile, a surge of tech stocks would highly likely find resistance in the 50-day simple moving average near 16,150.00, before reaching the 16,670.00/16,770.00 2021 high level zone.
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