$NDAQ dropped below SMA200, first time in 52 weeks

Ticker: $NDAQ
Company Stock Performance: Price drops below 200-day simple moving average after 52 weeks of bullish price action

Summary:  $NDAQ price dropped below SMA200 in September 2018, a bearish breakdown after a sustained bullish run since February 2018.  The upward trend that started in February ended mid-September.  This is the first time $NDAQ closed below its major support in the last 52 trading weeks.  In November 2017, the price tiptoed a little above its SMA200 as selling pressure was building up but bulls took control and pushed the price go up until the February madness where the overall market just went super volatile.  

Trade plan:  Based on the last two instances of $NDAQ price flirting with its 200-day moving average, it appears like bulls have taken control at the end of the day.  If this is true, then the bulls will again usher the price to the upside for gains resulting from potential bounce off SMA200.

Trade Execution: I will wait for the price to reverse and see if it trades above its major support before I open a properly sized position.  My stop loss will be 2x ATR. Entry will be when a clear new trend moving away and above SMA200 is established.  I will be watching for higher highs and lower lows to determine this.

Prediction: None

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