Arrow Electronics trades at $119.53 ahead of United States Core Retail Sales today at 12:30 UTC

After ending Friday at $119.14, Arrow Electronics went up to $120.28 only to drop back, yet still traded well overall and closed at $119.53 yesterday.

• United States Core Retail Sales data will be released today at 12:30 UTC, with an expected improvement to 0.4% (previous figure was -0.4%).
• Yesterday's gains added to Arrow Electronics's 15 days uptrend, during which it increased a total of $7.79.

Earlier data releases related to Arrow Electronics – United States TIC Net Long-Term Transactions (Mar) came out at 133.3 billion, while a consensus of analysts was expecting 85.4 billion. United States NY Empire State Manufacturing Index (May) released yesterday at 12:30 UTC with a figure of -31.8, while the previous figure was 10.8.

Here is the technical analysis of Arrow Electronics before macro data is released:

Despite posting gains on yesterday, Arrow Electronics, Inc. slid below its 5 day Simple Moving Average at $118.46 during the last session — an early indicator that a negative trend could be emerging. Arrow Electronics's upper Bollinger Band® is at $121.85, this is a slight indication of a slowdown. Although Arrow Electronics is appreciating today after rising as high as $120.28, price action is now slowing and consolidating around $1.04 below the $120.57 resistance level.

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.

Coming up for Arrow Electronics — United States Retail Sales is projected to outperform its last figure with 0.8%. It previously stood at -0.6%; data will be released today at 12:30 UTC. United States Core Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at -0.4%; data will be released today at 12:30 UTC.

As the markets get ready for more data to be released — Applied Materials added 4.32% to its value, and traded at $121.11. Intel added 2.94% to its value, and traded at $29.8. Adobe traded at $345.67 after closing yesterday's trading day at $335.45 (up 3.05%).

Having set a significant high of $132.53 3 months ago, the Colorado-based electronics company is trading 10.1% lower.