The Nasdaq 100 index has hit new all-time highs after rising 0.68% on the day on the back of positive performances by social media giant Twitter and Snap.
Shares of tech companies Snap and Twitter were among the big winners on the day. Snap climbed more than 20% after it recorded better-than-expected earnings numbers in Q2 2021. Intel was an underperformer on the day as it says it still faces constraints on the supply side.
The Nasdaq 100 index’s fourth consecutive day of gains has helped the index to top the 15,000 mark, trading at 15092 as of writing.
Technical Outlook for Nasdaq 100
The ascent of the Nasdaq 100 could aim for the 15331 price mark (127.2% Fibonacci extension), with 15594 (141.4% Fibonacci extension) and 15972 as future targets.
The lower border of the channel serves as a dynamic support. If that border is broken, we could see a correction towards 14827 initially, with 14616 and 14437.1 serving as additional targets to the south.