The Nasdaq index came close to the level of 11700 for the second time in October. At the beginning of the month, it wasn't possible to go higher, and judging by the quarterly reports of Microsoft and Alphabet, Nasdaq will bounce down from 11700 this time. Overbought on the Stochastic indicator also indicates the lowering.
Nasdaq can find support in the round level of 11000. Also, there is hope for positive results from Apple and Amazon which will be announced on Thursday. If these majors disappoint investors, Nasdaq risks renewing the recent lows near 10440.
This content is for informational purposes only and is not intended to be investing advice.
