Nasdaq 100 closes with marginal losses, dragged down by Dollar Tree and Zscaler

• The Nasdaq 100 lost 0.21% at the close of trading.
• Dollar Tree (DLTR) misses market expectations in its quarterly report and falls 22.16%.
• Zscaler Inc (ZS) shares are down 18.67% at the close of trading.

The Nasdaq 100 set a session high at 19,065, encountering aggressive sellers who drove the tech-heavy index to a daily low at 18,787. At the time of writing, the Nasdaq 100 is trading at 18,912, down 0.26% on the day.

Dollar Tree releases quarterly report, falls to four-and-a-half-year low

Low-end retailer Dollar Tree reported earnings today, reporting revenue of $7.37 billion, falling short of the $7.5 billion expected. It also reported earnings per share of $0.67, missing the market consensus of $1.06. Investors have punished the stock, sending it to lows not seen since March 2020 at $60.82. At the time of writing, DLTR is trading at $63.56, down $22.16.

Cybersecurity-focused company Zscaler INC has seen its stock price drop by 18.67% to $157.13. This drop follows Bank of America Securities’ price target reduction from $265 to $195 citing a slow growth forecast for 2025.

Technical levels on the Nasdaq 100

The Nasdaq 100 established short-term resistance at 19,936 given by the August 22 high, in convergence with the 78.6% Fibonacci retracement. We see the first support at 17,775 August 8 low, which confluences with the 23.6% Fibonacci retracement. The next key support is at 17,272 given by the August 5 pivot point.

Nasdaq 100 daily chart