The Nasdaq 100 climbs as investors rotate back into tech stocks.
The rally has gained traction after it broke above April’s peak at 14070. Momentum has pushed the index well above the rising trendline established in late May.
An RSI divergence suggests a deceleration in the impetus. While sentiment remains bullish, short-term bears may play mean reversion and push the price back to the trendline.
14490 is the closest support. Its breach could trigger profit-taking towards 14400.
14610 acts as a temporary resistance.
