- The Nasdaq 100 registers a streak of 4 consecutive sessions on the rise.
- Broadcom and Tesla operate with profits of 12.85% and 3.72%, respectively.
The Nasdaq 100 hit a daily high of 19,656 during the European session. However, aggressive sellers were present taking the index to a daily low of 19,474. At the time of writing, the Nasdaq 100 has recovered and is trading at 19,563 gaining 0.50% on the day.
Broadcom (AVGO) reports earnings and beats market expectations
The company that designs, develops and supplies a wide range of semiconductors released its financial reports at the close of the session on June 12. Broadcom (AVGO) reported $12.49B in revenue, beating analysts’ estimate of $12.06B. It also reported earnings per share of $10.96, compared to the $10.85 expected by the market. Broadcom is currently trading at $1,687, gaining 12.85% on the day.
Elon Musk, CEO of Tesla, mentioned on the social network X (formerly Twitter) that Tesla shareholders are ready to approve his $56 billion pay package. At the time of writing, Tesla is trading at $183.92, gaining 3.72% daily.
Technical levels on the Nasdaq 100
The Nasdaq 100 has begun a period of consolidation, we observe the first support at 19,520, in line with the 50% Fibonacci retracement. We see the next support at 19,480, the minimum of June 13 that converges with the 23.6% Fibonacci retracement. The closest resistance is at 19,600, given by the 78.6% Fibonacci retracement.
Nasdaq 100 15-minute 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.
