Trade of the week: long Nasdaq 100
We expect the Nasdaq 100 to continue its ascent for fundamental and technical reasons which is why we wish to go long with a stop loss below the 23 May 20,670 low with an upside target in the 22,000 region.
(Video transcript)
This week's trading opportunity
Welcome to "Trade of the week" on Tuesday, the 27th of May, 2025. So let's go into Trade of the Week. I would like to go long the Nasdaq 100, for technical reasons. As you can see here, we've got a long-term uptrend since the 7th of April low. And, once again, we are heading higher as President Trump pushed back his 50% tariff threat on the European Union on European imports into the United States to the 9th of July from its first date of the 1st of June.
So that has led to a relief rally yesterday, which is ongoing. And basically, the trend is likely to continue. And for that reason, ideally, what I would like to do is wait for a minor pullback, if there were to be one, to last Friday's high to around 21,180. And I would place my stop loss below this uptrend line and below Friday's low at 20,675.
So, today's "Trade of the week" is to go long the Nasdaq 100 at around current levels or ideally slightly lower at 21,180, with a stop loss just below last Friday's low at 20,675 and an upside target around the 22,000 mark.
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