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Current AEX price movement
It is Friday, June 21, and the AEX is at 930 in the morning session. That's 3 points higher than last week's reading.
Here is the chart of the AEX as of May 1, 2024. This is the period after the larger correction in April. You can see the rise that followed and the sideways range as of May 11.
In the past week, the AEX made its first move into the expected correction after hitting its price target at 935. In a somewhat volatile session, the low was 916 before testing the familiar 935 again. This appears to be a firm hurdle for now as the market is heading back to 930.
What is the expectation for the course of the AEX Index?
The underlying trend is strongly upward, with the long-term price target remaining at 1025. However, the most likely short-term scenario for the AEX is a decline to 916, followed by a test of the 900 zone and possibly 874. A correction of 3% to 5% from the top at 935 is a perfect setup for the next leap to the final target of 1025.
Therefore, we can expect lower prices in the AEX in the coming weeks, and we should be keen on good buying opportunities at lower levels for the long term.
Below is the chart of the AEX from May 1, 2024. This period follows a significant correction in April. You can see the subsequent rise and the sideways range from May 11 onwards. The breakout at the upper side is defined as the final sprint to the long-calculated price target. You can also see the 916 and the zone around 900 marked, as well as the ultimate correction target of 874.
The breakout at the top is defined as the final sprint to the long-calculated price target. The chart above shows the 916 and zone around 900 plotted and the final price target of the correction at 874.
Backtrack: read our view of the June 14, 2024 AEX Index here
The course of the Nasdaq
The Nasdaq futures are currently at 20.015, which is 115 points higher than last week's position.
The algorithm expected a somewhat sideways move between 19,600 and 20,400 last week. The Nasdaq futures have indeed moved within this range over the past week.
What is the Expected Price Movement of the Nasdaq?
The algorithm now suggests that within the strong upward trend, a correction is imminent. With the highest point at 20,390, the first price target has almost been reached, and we can expect a decline of 5% to 8% from the top at 20,390 in the coming weeks. The long-term price target remains at 21,500, but a correction to levels between 19,200 and 18,600 is the most likely step and the precursor to the next leap to 21,500.
Below is the chart of the Nasdaq100 -future as of April 1, 2024. After the solid correction within the uptrend in April, you can see that the index continues to trend very strongly and that the first price target has been reached.
Chart: Nasdaq 100 Future from April 1, 2024, to June 20, 2024
Major stock market news in the week of June 24, 2024 to June 28, 2024
the sting is in the tail in the upcoming week regarding, the figures and events. On Friday at 2:30 p.m., important inflation figures come out of the U.S.
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' own insights and experiences. They are therefore for educational purposes only.
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