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May 08, 2023
A quick look at Friday: Arrow Electronics recovered from the previous trading session's losses and went up to $119.64 Friday after it traded lower at $117.64.
Arrow Electronics, Inc.'s upper Bollinger Band® is at $121.93, this is a slight indication of a slowdown. Arrow Electronics could be slowing down soon; it is getting close to the resistance line and is now at $121.21, only $1.57 away. Crossing the resistance line could, however, suggest that further gains are ahead.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Arrow Electronics is set for a reversal in the coming days.
This rally in Arrow Electronics's share price coincided with other technology stocks as Apple gained 4.69%, as it traded at $173.57. Adobe traded at $348.4 after closing Friday's trading day at $335.83 (up 3.74%). Texas Instruments was up 2.96%.
Furthermore, the market is looking at United States EIA Short-Term Energy Outlook scheduled to come out tomorrow at 16:00 UTC.
3 months ago the electronics company reached a significant high of $132.53 but has consequently lost 10.08% since then.
