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June 06, 2023- Medium-term trend indication turns negative after MACD index generates a crossover sell signal
Ryanair has been losing ground for 7 days, shedding a total of 1.88% of its value. Similar trend today: Ryanair is down to $105.29, after ending yesterday at $106.75. Overall, a 1.37% loss or $1.46 today.
The stock has been trending positively for about 2 months. Ryanair hit a significant low of $56.89 around 7 months ago, but has since recovered 87.64%.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions.
In the short term, Ryanair is expected to maintain its recent downtrend and continue spiralling lower.
Fundamental indicators – United States ISM Non-Manufacturing PMI (May) came out at 50.3, while a consensus of analysts was expecting 51.8.
Ryanair's stock value drop coincides with Union Pacific is down 1% from the beginning of the session and now trades around $196.74. United Parcel Service is trading around $166.91 (down 0.56%).
Positive performances can be seen by looking at other industrials stocks as General Electric gained 0.77%, currently at $104.9.
Upcoming fundamentals: as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 1.15 million, following on from the preceding figure of 4.49 million. New data is set to be published tomorrow at 14:30 UTC.
