STMicroelectronics zeroing in on key resistance at $43.93 and $44.32 thereafter

• STMicroelectronics overcomes resistance at $43.93; now eyeing $44.32
• STMicroelectronics made an initial breakout above its 21 day Simple Moving Average at $43.88, a potential indicator of a newly emerging bullish phase.

STMicroelectronics has posted further gains as part of a 10 day trend that has already seen the stock gain $2.21. This session seems to remain in the same lane for now — the Dutch tech company rallies 1.91% and stays at the $44.37 level.

Pointing downwards for around a month. Having set a significant high of $53.49 a month ago, the Dutch tech company is trading 18.6% lower.

STMicroelectronics N.V. broke through the $43.93 resistance, climbing 44 cents above it. STMicroelectronics made an initial breakout above its 21 day Simple Moving Average at $43.88, a potential indicator of a newly emerging bullish phase.

Overall, looking at the technical analysis landscape, it seems STMicroelectronics might continue pointing upwards in the short term.

Fundamental indicators – United States Existing Home Sales (Apr) came out at 4.28 million, while a consensus of analysts was expecting 4.3 million.

This rally in STMicroelectronics's share price coincides with other technology stocks as Sony Group Corporation is up 3.67%. Applied Materials is trading at $131.71 after ending yesterday's session at $125.7 (up 4.78%). Intuit added 3.48% to its value, now trading at $446.91.

Upcoming fundamentals: United States Fed Chair Powell speech set for tomorrow at 15:00 UTC.