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March 18, 2023
- STMicroelectronics's upper Bollinger Band® is at $49.83 which indicates a further downward move may follow.
Having fallen 81 cents in 4 days, Yesterday's session continued the recent downtrend: during yesterday's session, STMicroelectronics toiled and struggled for upward momentum before closing at $48.03. By the close, the the Dutch semiconductor maker suffered a 54 cents or 1.11% loss.
The stock has been trending positively for about 2 months. This year has been a bright one for the Dutch tech company after trading as low as $29.56 and going on to appreciate by 34.47% year to date.
STMicroelectronics N.V.'s upper Bollinger Band® is at $49.83 which indicates a further downward move may follow.
Looking forward, STMicroelectronics is poised to extend its strong downtrend and continue declining.
STMicroelectronics was not the only decliner in the technology sector; Accenture plc Class A (Ireland) went down 1.15%, closed at $252.92.
On the other hand, positive performances could be seen by looking at other technology stocks as Microsoft gained 1.17%, as it traded at $279.43. Adobe added 1.37% to its value, and traded at $358.14.
