Company Overview: Nasdaq, Inc. (NASDAQ: NDAQ) is best known for its equities exchange, the company also sells and distributes market data, as well as provides Nasdaq-branded indexes to asset managers and investors through its information-services sector, which accounts for about 35% of sales. Nasdaq's market technology group (15%) supports the exchange operations of other exchanges, while Nasdaq's corporate-services business (20%) offers listing services, related investor relations, and governance products to organizations worldwide.
As per the previous report published on NDAQ dated 19th July 2022, a ‘HOLD’ stance was provided on the stock at USD 158.46 based on ‘improved quarterly performance, healthy free cash flows, strategic growth, and upside indicated based on Valuation, since then the stock price has moved by ~14.90% furthermore above both the Resistance 1 and Resistance 2 levels.
Noted below are the details of support and resistance levels provided in the previous report:
NDAQ’s Daily Chart
Considering the resistance around USD 182 - USD 185 range, attainment of target price and resistance levels, overbought RSI, and volatile market condition on the back of rising interest rates, a ‘Sell’ rating is assigned to the “NDAQ” at the closing market price of USD 182.07 as of August 05, 2022.
Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 04 August 2022. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.
Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’