- Price action oscillating around key resistance at $37.7
- Market price breaks 9 cents above key Fib handle of $38.79
Bullish sentiment helped the Dutch tech company to hammer out a noteworthy $36.86 to $38.88 range yesterday, and finally closing at $38.88 to end the session.
STMicroelectronics's notable support and resistance levels: STMicroelectronics N.V. broke through the $37.7 resistance and climbed $1.18 above it. Price action overcame a known Fibonacci resistance level at $38.79 by around 9 cents with prices hammering out a $36.86 – $38.88 session range.
Fundamental indicators – Crude Oil Inventories in United States fell short of market expectations (-2.76 million) with a reading of -12.58 million, continuing the decline from the previous figure of -3.69 million.
A look at other technology stocks also showed bullish price action as Microsoft gained 6.16%, as it traded at $255.14. Apple added 4.86% to its value, and traded at $148.03. Qualcomm traded at $126.49 after closing yesterday's trading day at $117.63 (up 7.53%).
Upcoming fundamentals: United States Core PCE Price Index (MoM) (Oct) is expected today at 13:30 UTC.