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Price Development AEX Index
It is Friday, May 3, The AEX is around 888 at 3:00 PM, which is 10 points higher than last week, continuing its upward trend.
Above, you will find the chart of the AEX from January 1, 2024. You can see the decline from the top at 893, followed by a volatile and risky period typical of a corrective price movement. The AEX then resumes the upward trend toward the charted target of 920.
In the past week, the AEX has experienced significant movement. After rising to 890 on Monday, it fell to 873 on Thursday. Less than a day later, the index is back at 888. This volatility is caused by important events and figures released over the past week. The drop from 890 to 873 can again be defined as a correction within the upward trend. After a week of significant price movements, the most likely scenario is the continuation of the trend toward the target of 920.
Expectation price development AEX Index
The monthly employment figures from the US indicate that the economy is not growing as fast as expected. This could result in a potential decrease in inflation in the US, allowing the Federal Reserve to move sooner toward the desired interest rate cut, which is good for the stock markets. We have to wait to see how the AEX relates to the top at 893. As previously mentioned, some technical resistance is expected there. If the market corrects slightly but maintains upward momentum, we will move on to 920. This is the most likely scenario according to our algorithm.
Backtrack: Read our outlook on the AEX Index from April 26, 2024
Price development Nasdaq
The Nasdaq futures are currently at 17,950. This is 200 points higher than last week.
Expectation price development Nasdaq
For the Nasdaq, the most probable scenario is that the short-term correction is over and the upward trend will continue, with the first target at 18,700. Our algorithm expects more resistance at 18,700 than at the top of the AEX at 893. So, at 18,700, it will be determined if a pause is needed. Additionally, the target for 2024 in the Nasdaq future has been lowered from 22,500 to 21,500
Below you will find the chart of the Nasdaq100 future since October 2022. You can see the significant corrective decline and then, on the far right, the setup of the upward movement with the initial target price of 18,700, followed by the newly projected target price for this year of 21,500.
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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