In a sell scenario, the analysis may show that the NASDAQ is currently facing resistance at a certain level, indicating that Nasdaq may be overbought and poised for a correction. Additionally, the analysis may also indicate a bearish trend with declining momentum, suggesting that it's a good time to sell the stock to the 38.2 level on the fib graph.
On the other hand, in a buy scenario, the analysis may reveal a strong level of support (at the trend line ) and an upward trend with increasing momentum. This would indicate that the stock is undervalued and poised for a price increase, making it a good time to buy.
It's important to note that technical analysis is just one factor to consider when making trading decisions, and it should be used in conjunction with other types of analysis, such as fundamental analysis , to make informed decisions.