U.S Non-Farm Employment Report Boosts Buyers Of NASDAQ100

NASDAQ100 shares experienced a solid climb with significant gains in 105 stocks while only 3 stocks were down slightly. In the U.S on Friday (8/7), the nonfarm payrolls report reported that the country created 287,000 new jobs in June, beating economists’ expectations of 175,000. The outstanding report has swept the shocking non-farm employment report from May out of investors’ minds. This helped lift U.S shares, including the NASDAQ100 stocks. On the hourly chart, NASDAQ 100 is rocketing to a one-month record high of 4526.61. RSI (14) has entered overbought territory, and continues to move up higher. ADX (14) is ticking up to the level of 59.7848, indicating that the bullish trend is overwhelming. The price is expected to stay in an uptrend for a long period of time.

Trade suggestion

Buy stop at 4532.97, Take profit at 4547.02, Stop loss at 4522.44

Leave a Reply

Your email address will not be published.