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June 30, 2023As traders prepare for a lower market open today, yesterday's bullish sentiment has been left in the rear-view mirror: after closing at $3.98 on Wednesday, Opendoor Technologies Inc. maintained a strong bullish bias that helped the stock close higher at $4.08 yesterday. However, market bears ensured the the online residential real estate company topped out at $4.33 and that by the end of the session, the market had marked out a distinct $3.95 to $4.33 range.
United States Core PCE Price Index (MoM) (May) is next today at 12:30 UTC.
Opendoor Technologies Inc's uptick comes amid good United States macroeconomic data released during the day — United States GDP beat the 1.4 projections, with two. United States Initial Jobless Claims beat the 266,000 projections, with 239,000.
On the flip side, data from United States concerning Pending Home Sales was released yesterday at 14:00 UTC. Newly published figures emphasized continued decline from last month's figure of -0.4% to -2.7% this month.
This rally in Opendoor Technologies Inc's share price coincided with other real estate stocks as ProLogis added 0.75% to its value, and traded at $121.5.
Also worthy of note, United States Core PCE Price Index (MoM) (May) is scheduled for today at 12:30 UTC.
The stock has been trending positively for about 2 months. The online residential real estate company now trading 168.92% above its 3-month low of 97.01 cents.
