| 
June 27, 2023
Pronounced bullish sentiment in the market helped the Colorado-based electronics company to make a notable 0.02% gain yesterday, rising 3 cents and ultimately closing at $135.11.
- United States Building Permits is next.
- While mostly sideways today, Arrow Electronics is on a 7 day bearish trend during which it lost $4.15.
Earlier data releases related to Arrow Electronics – United States 2-Year Note Auction released yesterday at 17:00 UTC with a figure of 4.67, while the previous figure was 4.3.
Here is the technical analysis of Arrow Electronics before macro data is released:
Arrow Electronics, Inc. is approaching key support, around 76 cents away from $134.35. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Arrow Electronics made an initial breakout above its 3 day Simple Moving Average at $136.46, a potential indicator of a newly emerging bullish phase.
Despite muted price action in Arrow Electronics, chart analysis indicates it is positioned for a bullish run in the short term.
Coming up for Arrow Electronics — United States Crude Oil Inventories is projected to outperform its last figure with 1.42 million. It previously stood at -3.83 million; data will be released tomorrow at 14:30 UTC. United States Core Durable Goods Orders is projected to outperform its last figure with -0.1%. It previously stood at -0.2%; data will be released today at 12:30 UTC.
As the markets get ready for more data to be released — Qualcomm added 2.82% to its value, and traded at $116.63. Microsoft closed at $328.6 (down 1.92%). NVIDIA went down 3.74%, closed at $422.09.
The stock has been trending positively for about 2 months. Having set a significant high of $139.23 12 days ago, the electronics company is trading 2.98% lower.
