Top Nasdaq 100 Stocks: Trading Opportunities For Next Week - Sunday, Aug. 7

Chart, Trading, Courses, Forex, Analysis

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A security pattern traces the distinct movements of security prices that, once recognized, help traders to make informed trading decisions. These patterns are identified by their vital geometrical elements, which are formed by changing security prices. Here is a closer look at some Nasdaq 100 stock opportunities that may be revealed by analyzing these patterns.


Buy Signal for ZScaler, Inc. (ZS(Broadening Wedge Descending)

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The 'broadening wedge descending' pattern forms when the price of a security makes lower lows (1, 3, 5) and lower highs (2, 4), forming a downtrend. This pattern may form when large investors spread out their selling over a period of time.

When the initial selling occurs, other market participants react to the falling price and jump on the bandwagon to participate. Then the value investors begin to buy, believing the price has fallen too much, which also spurs the original large investor to resume buying again as well.

Trade idea:

  • Buy near the breakout (entry) price – $164.64.
  • Sell at the target (exit) price – $167.43.

Trend trading is a strategy based on the technical analysis of changing market prices. The trend trader enters into a long position when a stock is trending upward, and uses the short position when a stock is trending downward.


Buy Signals for Netflix, Inc. (NFLX), Datadog, Inc. (DDOG), & Cadence Design Systems, Inc. (CDNS)

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Trade idea:

  • Buy at the opening of the stock market on Monday if the opening price has gone up by no more than 0.5% of Friday's closing price.
  • Sell after the price has risen by 2% from Friday's closing price, or at the end of the trading week if the target is not reached.


Buy Signal for Automatic Data Processing, Inc. (ADP)

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Trade idea:

  • Buy ADP at the current market price if seen as appealing.
  • Sell ADP after receiving the "sell" recommendation from trusted analyses.

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