- The Nasdaq 100 breaks the negative streak and registers a daily gain of 1.00%.
- NVIDIA (NVDA) recovers and registers a gain of 5.54%, in line with Arm Holdings (ARM) which rises 5.92% on the day.
The Nasdaq 100 technology index marked a daily low during the European session at 19,468, rebounding and reaching a daily high in the American session at 19,701. At the time of writing, the Nasdaq 100 is trading at 19,670, gaining 1.00% daily.
NVIDIA resurfaces after three consecutive sessions of decline
NVIDIA (NVDA) stock is rebounding strongly after posting a drop that accounted for more than $430 billion in market capitalization. NVIDIA’s astonishing rise places the company as a core entity within the Nasdaq 100 technology index. Currently, NVIDIA shares are trading at $125.14, up 5.92% today.
On the other hand, Arm Holding (ARM) is the other stock that leads the technology index. The company that designs microprocessors is trading at $160.47, gaining 6.19% in the session.
Technical levels on the Nasdaq 100
The technological index has reacted to a first support located at 19,575, in convergence with the 23.6% Fibonacci retracement. The closest resistance is located at 19,740, a level that converges with the 55-period Simple Moving Average. We observe a clear bullish trend, supported by the Exponential Moving Average at 19,616 that has driven today’s session. The Relative Strength Index is above the mid-50 level, preparing for a potential rise to the resistance at 19,950, given by the June 17 and 18 pivot points.
Nasdaq 100 1-hour chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
