Investors are keeping a close eye on Nasdaq (NDAQ) as the global technology company’s shares have been experiencing some volatility in recent months. Despite this, firm support at the $58 level has helped the stock maintain a 5.8% year-to-date gain. The recent 1.7% rise in NDAQ’s stock price has brought it closer to a historically bullish trendline.
NDAQ recently came within one standard deviation of its 80-day moving average, a signal that has only occurred five times in the past three years. After each of these events, Nasdaq stock was higher one month later, with an average gain of 4.5%. If the stock continues this trend, it could reach $64.21 from its current level of $61.45, matching its recent 52-week high of $64.25 on April 9.
This may be an opportune time for investors to consider options with NDAQ, as the stock’s Schaeffer’s Volatility Index (SVI) is at 19%, placing it in the low 16th percentile of its annual range. This suggests that options for Nasdaq are currently priced attractively, presenting a potential opportunity for investors to take advantage of the stock’s next move.
Analysts are closely watching Nasdaq’s performance as it continues to ride the wave of its year-to-date gains and approach a historically bullish trendline. With the stock’s recent pullback and proximity to its 80-day moving average, investors may find potential for further growth in NDAQ’s stock price in the coming months.
As Nasdaq continues to demonstrate strength and resilience in the face of market volatility, investors are optimistic about the stock’s potential to reach new highs. With the stock currently trading at $61.45, analysts are projecting a potential increase to $64.21 based on historical trends and technical indicators.
With options offering an attractive premium price at this time, investors may want to consider taking advantage of Nasdaq’s potential growth trajectory in the near future. As the stock continues to show signs of strength and bullish momentum, investors may find opportunities for profitable trades by leveraging options on NDAQ.
