Arrow Electronics adds 1.89% to close at $114.43; extends its four-day winning streak

A quick look at yesterday: after closing Thursday at $112.31, Arrow Electronics closed at $114.43 yesterday after climbing to $114.44 and dropping back down.

Meanwhile, United States Core PCE Price Index (MoM) (Mar) came out at 0.3, while a consensus of analysts was expecting 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 236,400, while the previous figure was 244,600. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 185,300, while the previous figure was 189,900.

Arrow Electronics, Inc. made an initial breakout above its 10 day Simple Moving Average at $114.29, a potential indicator of a newly emerging bullish phase. Despite this, Arrow Electronics could be slowing down soon; it is getting close to the resistance line and is now at $115.18, only 75 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Arrow Electronics might continue pointing upwards in the short term.

This rally in Arrow Electronics's share price coincided with other technology stocks as Intel traded at $31.06 after closing yesterday's trading day at $29.86 (up 4%). Intuit gained 3.45%, as it traded at $443.95.

Arrow Electronics went up yesterday, yet these technology stocks did not follow — Sony Group Corporation closed at $89.67 (down 5.7%).

The Colorado-based electronics company has fallen back around 15.26% over the past 2 months, from a notable high of $132.53.