Both Apple and Tesla (NASDAQ: TSLA) stock prices witnessed huge gains on the news that the companies were nursing plans to stock split.
The addition of firms like Robinhood, which allows retail investors to trade fractions of shares, will go a long way in enhancing the volume of trades in the retail domain.
The S&P 500 index was down on Thursday largely due to the weakness seen in the Energy and Communications sectors. Meanwhile, the recent better-than-expected US unemployment data was largely responsible for the decent recovery seen in the US bond yields.
Also, the US import prices data was equally goodish and is the third gauge released this week that had better-than-expected results. Meanwhile, the volatility index (VIX) gained slightly yesterday and continues to stay well above the 2019 average.
Nasdaq 100 (NDX) Value Forecast — August 14
NDX Major Bias: Bullish
Supply Levels: 11307, 11500, and 11600.
Demand Levels: 11150, 11069, and 10895.
So far, the NDX has had a decently bullish week. Although the price has been having difficulty breaking above a key resistance level, the index retains an overall bullish bias. The Nasdaq 100 recovered fully from last week’s mild correction but failed to take the 11307 resistance yet again.
That said, a slight retrace is underway and we could see a retest of the aforementioned resistance before the end of today or by next week. Keep in mind that we’re still trading within our ascending channel, which has been prevailing since the 1st of April, with the 11600 being the target.
The 11150 -11068 region will continue to serve as the immediate strong support area for the NDX in the near-term.
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
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