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Patrick
Rejaunier

Equity Analyst
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NASDAQ 100 : Still on the rise

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07/23/2019 | 11:03am EDT

In the middle of the earnings season, the major technology index is still on the rise.





Over the last month, the Nasdaq 100 advanced by 2.9%, driven by expectations of lower Fed rates. The contributors are mainly in the microprocessor sector, such as Micro Technologies, which grew by 42% over the same period, and Western Digital (+38%).

Tesla also rebounds, during this monthly sequence, by recovering more than 15%. On the other hand, Netflix disappoints and loses more than 16%.

Graphically, in daily data, prices stabilize towards the highs at 7970 points, supported by the 20-day moving average. The trend therefore remains very bullish and a stabilization of prices could be followed by an acceleration towards new historical highs, above 8000 points.

A sharp decline below 7740 points, initially, and then below 7450 points, would be required to neutralize the current configuration. This provides a real margin of possible fluctuations, without changing the momentum.


Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -1.89% 25753.62 Delayed Quote.12.54%
NASDAQ 100 -2.72% 7496.980439 Delayed Quote.21.08%
NASDAQ COMP. -2.55% 7787.499692 Delayed Quote.19.79%
S&P 500 -2.02% 2863.77 Delayed Quote.16.66%

Patrick Rejaunier
© MarketScreener.com 2019
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