Price movement AEX Index
It is Friday, February 16, and the AEX is at 855 which is 5 points higher than last week.
It is Friday, February 16, and the AEX is at 855 which is 5 points higher than last week.
Above, you will find the chart of the AEX since October 2023, starting from the bottom at 710. You can also see the strong breakout that surpasses the old record level of 830. The vertical line marks the beginning of 2024. The line at 830 is the most likely level where the correction could end.
The AEX has returned to the high point set last week. The AEX showed a sharp decline to 834 last week, only, to recover to the previous top. This made for a volatile week with significant challenges, as the AEX is now at a critical juncture.
What is the expected trend for the AEX Index?
The algorithm indicates a higher probability that the index will experience another drop to 830. If the AEX closes above 856, this pattern will be invalidated, and an upward trend continuation is expected, with a minimum target of 875. The target for this year will be adjusted much higher accordingly.
The algorithm indicates a higher probability that the index will experience another drop to 830. If the AEX closes above 856, this pattern will be invalidated, and an upward trend continuation is expected, with a minimum target of 875. The target for this year will be adjusted much higher accordingly.
The TradingStrategie portfolio currently has a modest short position in the AEX. This position has a hard stop at 860 or will be closed during the correction. The algorithm will then look for the right entry point for a long position.
Backtrack: Read our outlook on the AEX Index from February 9, 2024
Backtrack: Read our outlook on the AEX Index from February 9, 2024
Price movement in the Nasdaq
Below is the chart of the Nasdaq100 since December 2023, currently at 18,000, which is 100 points higher than last week.
Below is the chart of the Nasdaq100 since December 2023, currently at 18,000, which is 100 points higher than last week.
What is the expected trend for the Nasdaq?
The Nasdaq also experienced a sharp decline and a strong recovery. The same scenario applies here as for the AEX. The highest probability is for another drop in the correction, potentially to the 17,000-16,800 level. Above 18,300, the upward trend will continue with a target of 19,000. We expect a higher target will be formed within the upward trend later for the Nasdaq.
Disclaimer: Investing involves risk. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' insights and experiences. They are therefore for educational purposes only.
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