Tech Stocks Reach Important Price Resistance Level, Says Joe Friday
(Click on image to enlarge)
The end of year rally has trickled over into 2024 and it has been lead by tech stocks.
But has the rally gotten long in the tooth?
“The facts, Ma’am. Just the Facts.” – Joe Friday
Today’s “weekly” chart of the Nasdaq 100 Equal Weight Fund (QQEW) highlights an important obstacle for tech stocks: the 2021 highs sit overhead as price resistance.
And QQEW is hitting this level as its RSI indicator is at peak levels. Could this bring a pullback? Or will be see a breakout?
Ole Joe thinks this could be an important level for QQEW, and I think you should too. Stay tuned!
More By This Author:
China ETF (FXI) Attempting Triple Bottom This MonthSemiconductors Trigger Buy Signal With Cup And Handle Breakout
Bitcoin U-Turn? Reversal From Important Fibonacci Level Sends Bearish Signal
Disclosure: Sign up for Chris's Kimble Charting Solutions' email alerts--click here.
How did you like this article? Let us know so we can better customize your reading experience.
Comments
Leave a comment to automatically be entered into
our contest to win a free Echo Show.
