- Price action is currently stuck around the active Fibonacci support level of $9.58
- Lower Bollinger Band® at around $9.21
While on a 3 day slump, falling a total of 4.49%, Similar trend today: while bearish sentiment is dominating the market, RADA Electronic Industries is maintaining its poise around $9.46 while ranging between $9.35 and $9.68 so far today.
The stock has been trending positively for about 4 months. RADA Electronic Industries reached a significant high of $16.43 around 7 months ago but has lost 41.87% since then.
Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. RADA Electronic Industries is currently flirting with an active Fibonacci support level around $9.58. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $9.21, a low enough level to, generally, suggest that RADA Electronic Industries is trading below its fair value. Technical analysis shows that RADA Electronic Industries could begin to recover as it approaches significant support, now 15 cents away from $9.3. Dipping below could be an indication that further losses are ahead.
All in all, the technical analysis suggests RADA Electronic Industries has no clear-cut direction.
Fundamental indicators – United States Existing Home Sales (Oct) released today at 15:00 UTC with a figure of 4.43 million, while the previous figure was 4.71 million.
Positive performances can be seen by looking at other industrials stocks as United Parcel Service is trading at $178.5 after ending yesterday's session at $176.06 (up 1.39%). Raytheon Technologies added 0.8% to its value, now trading at $95.28. Lockheed Martin is up 0.55%.