With the U.S. markets pushing higher to all time highs I am looking at the tech sector and the Nasdaq 100 index to do the same over the next couple of trading session.
We might see a short-term sell-off before the price action moves higher, but currently it is trading above its 50-day simple moving average (SMA) and above major resistance. Take note, I have adjusted my stop to accommodate more risk as the price action might move lower first.
Trade: Nasdaq 100
- Entry (Buy): 7607
- Stop loss: 7506
- Target price: 7687
Chart Source: Bloomberg
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