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March 27, 2023
- STMicroelectronics's upper Bollinger Band® is at $49.91 which indicates a further downward move may follow.
During Friday's session, STMicroelectronics toiled and struggled for upward momentum before closing at $49.21. By the close, the the Dutch tech company suffered a $1.69 or 3.32% loss.
STMicroelectronics N.V.'s upper Bollinger Band® is at $49.91 which indicates a further downward move may follow.
Several technical indicators are adding weight to the bearish momentum seen Friday and forecasting STMicroelectronics to extend its recent losses.
STMicroelectronics was not the only decliner in the technology sector; Applied Materials went down to $119.53, losing 2.65% after it closed at $122.78 Friday. ASML Holding went down to $647.53, losing 2.5% after it closed at $664.16 Friday.
On the other hand, positive performances could be seen by looking at other technology stocks as IBM gained 1.56%, as it traded at $125.29.
