The NAS100, an index consisting of the 100 largest tech companies on the NASDAQ exchange, bounced off the 0.618 fibonacci retracement line, also known as the Golden Ratio.
It seems that the recent tech slump has ended, in the short term. Although it's true that a corona vaccine is bullish for other stocks, it doesn't mean we will stop using tech companies anytime soon.
Consider resistance 1 and resistance 2 as good short term areas to exit your long position. If we make new high's in the coming week, my guess would be that a new bullish trend will start till the end of the year.
It seems that the recent tech slump has ended, in the short term. Although it's true that a corona vaccine is bullish for other stocks, it doesn't mean we will stop using tech companies anytime soon.
Consider resistance 1 and resistance 2 as good short term areas to exit your long position. If we make new high's in the coming week, my guess would be that a new bullish trend will start till the end of the year.
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