NASDAQ has recently extended its upward trend, rising from 11678 to as high as 15947. As long as the price stays within the rising price channel on the daily chart, the upside move could be expected to continue, with the next target being the 16700 area.
On the other hand, if the price were to break down below the channel support, it would indicate that the upside move has already completed at 15947 and the price could find support at 14699.
Overall, while NASDAQ remains in an uptrend within the rising price channel, there is also the possibility of a breakdown below the channel support that could see the price fall.
