Arrow Electronics is up six days in a row, gaining 1.2% and closing at $143.23

A quick look at yesterday: after finishing Thursday at $141.53, the electronics company went up by 1.2% yesterday and remained at the $143.23 level.

Meanwhile, United States Core PCE Price Index (YoY) (May) came out at 4.6, while a consensus of analysts was expecting 4.7. United States Core PCE Price Index (MoM) (May) released yesterday at 12:30 UTC with a figure of 0.3, while the previous figure was 0.4. United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -208,300, while the previous figure was -239,300.

The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. In contrast, after reaching the known resistance zone beginning at $145, Arrow Electronics price action retreated approximately $1.78. Bollinger Band® analysis indicates that current price action is approaching the upper band at $144.21, thereby suggesting that Arrow Electronics is becoming overvalued.

According to technical analysis, it looks as if Arrow Electronics likely to continue pointing upward in the short term.

This rally in Arrow Electronics's share price coincided with other technology stocks as Apple gained 2.31%, as it traded at $193.97. NVIDIA was up 3.63%. ServiceNow added 2.53% to its value, and traded at $561.97.

The stock has been trending positively for about 2 months. The electronics company has fallen back around 1.19% over the past a day, from a notable high of $143.23.