Nasdaq100 inverse Head and Shoulders Chart Pattern
Nasdaq 100 P/E ratio on May 12, 2022 was 20.71, which is below the Median of 26.59 or the Average of 30.04.
In the past 5 years, the Minimum was 15.74 on MAR 23 2020 and Maximum 86.30 on JUN 28 2017.
I have 2 scenarios:
1. Inverse head and shoulders chart pattern with a price target of $16650 by the end of the year.
2. Worst case scenario: bull trap at $13350 an retracement to the pre-pandemic level of $9750. I tend not to believe this scenario because of the too low price per earnings ratio of NDX.
Looking forward to read your opinion about it.
In the past 5 years, the Minimum was 15.74 on MAR 23 2020 and Maximum 86.30 on JUN 28 2017.
I have 2 scenarios:
1. Inverse head and shoulders chart pattern with a price target of $16650 by the end of the year.
2. Worst case scenario: bull trap at $13350 an retracement to the pre-pandemic level of $9750. I tend not to believe this scenario because of the too low price per earnings ratio of NDX.
Looking forward to read your opinion about it.
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TRADING COURSE bit.ly/tradex
Private Signals www.patreon.com/PremiumOptionsSignals
RESULTS www.bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880
