- STMicroelectronics overcomes resistance at $38.06; now eyeing $38.41
- STMicroelectronics made an initial breakout above its 5 day Simple Moving Average at $38.19, a potential indicator of a newly emerging bullish phase.
Signs of life: 5 days of level trading might be coming to an end with a gain of 0.541% today Today's session shows improvement: an influx of buyers helped the Dutch tech company to end the session higher around $38.58, while establishing a $37.54 to $38.64 session range today.
The Dutch semiconductor maker is up 27.57% from the significant low of $29.56 it hit 4 months ago.
STMicroelectronics N.V. made an initial breakout above its 5 day Simple Moving Average at $38.19, a potential indicator of a newly emerging bullish phase. STMicroelectronics broke through the $38.06 resistance, climbing 52 cents above it.
Overall, looking at the technical analysis landscape, it seems STMicroelectronics might continue pointing upwards in the short term.
Fundamental indicators – United States API Weekly Crude Oil Stock came out at -4.8 million, while a consensus of analysts was expecting -2.2 million.
This rally in STMicroelectronics's share price coincided with other technology stocks as Intuit was up 4.59%. NVIDIA traded at $160.38 after closing today's trading day at $153.17 (up 4.71%). Intel added 3.04% to its value, and traded at $29.82.
Upcoming fundamentals: United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.5%; data will be released tomorrow at 13:30 UTC.