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April 25, 2023
Arrow Electronics is down to $111.91, after ending yesterday at $112.93. Overall, a 0.9% loss or $1.02 today.
- Consumer Confidence data from United States will be released today at 14:00 UTC with analysts expecting a decline to 104. Potentially significant price fluctuations in Arrow Electronics are expected to follow.
- Today's losses are adding to an 8 day bearish run, during which Arrow Electronics lost $6.31 of its value.
Earlier data releases related to Arrow Electronics – United States Building Permits came out at 1.43 million, while a consensus of analysts was expecting 1.41 million. United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Feb) released today at 13:00 UTC with a figure of 0.4, while the previous figure was 2.6.
Here is the technical analysis of Arrow Electronics before macro data is released:
As the trading day commences, technical analysis suggests Arrow Electronics, Inc. could begin to recover as it approaches significant support, now 2 cents away from $111.93. Dipping below could be an indication that further losses are ahead. With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that Arrow Electronics's lower Bollinger Band® is at $110.63, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, the technical outlook suggests Arrow Electronics is likely to remain muted for the immediate future, with no clear-cut direction.
Coming up for Arrow Electronics — projections for United States Core Durable Goods Orders are set for a continuation of decline with -0.2% while previous data was -0.1%; data will be released tomorrow at 12:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -1.67 million, having previously been at -4.58 million. The figure will be published tomorrow at 14:30 UTC.
As the markets get ready for more data to be released — Intuit is down 3.14% from the beginning of the session and now trades around $428.42. TSM is down to $82.7, losing 2.29%, after ending yesterday at $84.64. SAP added 1.2% to its value, now trading at $134.13.
The electronics company has fallen back around 14.79% from the significant high of $132.53 set 2 months ago.
