- The Nasdaq 100 gains 0.14% daily, marking its fifth consecutive week on the rise.
- Fastenal Company (FAST) shares soar 9.76%, after exceeding expectations in its quarterly report.
- PACCAR (PCAR) rebounds 3.07%, reaching three-and-a-half-month highs.
The Nasdaq 100 hit a daily low of 20,133, finding buyers that took the index to a daily high of 20,312. Currently, the Nasdaq 100 trades at 20,268, gaining 0.16% at the close of trading.
Fastenal Company (FAST) Beats Analyst Estimates in Its Earnings Report
Fastenal Company (FAST) shares show a gain of 9.76% to trade at $76.82, reaching more than six-month highs not seen since March 28. Investors were encouraged after the company’s quarterly report, which reported revenue of $1.91 billion and earnings per share of $0.52, beating analyst estimates.
On the other hand, PACCAR (PCAR) recorded a daily gain in its stock price of 3.07%, reaching highs not seen since July 22 of $106.80.
Technical levels on the Nasdaq 100
The Nasdaq 100 maintains the bullish outlook after reacting upwards at a support located at 19635, given by the October 2 low. The next key support zone is seen at 19291, the pivot point of September 16.
On the upside, key stock is at 20,754, given by the all-time high reached on July 11. The Relative Strength Index is at 61.44, above the midline of 50, confirming short-term buying pressure with intentions to explore higher levels.
Nasdaq 100 4-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.
