3 up-trending stocks stuck in range-bound price action today

Published: January 25 2023, 20:20 GMT+0

3 up-trending stocks stuck in range-bound price action today

The 3 stocks on an uptrend: Lyft, Inc., National Instruments Corporation, 10x Genomics, Inc. top this list.

Markets are currently flat. Nasdaq trades at 11,300 after losing 0.18%. S&P 500 is relatively flat, trades at 4,013.

Current market events are being influenced by ambiguous macro data as Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million.

What is an uptrend?

An uptrend describes the price movement of a continuously appreciative financial asset over a particular time frame. In an uptrend, each successive peak and trough is higher than the ones found earlier in the trend. The uptrend is therefore composed of higher swing lows and higher swing highs.

Lyft soars 59.68% ($5.43) in 19 days

Today's session so far looks to be heading in the same direction — after dipping down to $14.65, the urban mobility company regained earlier losses, reaching $15.76 as the end of the session nears. As things stand, trading volume is at 13.29 million, above the 21-day average of 12.82 million.

The company is currently trading with a market cap of $5.55 billion with an average daily trading volume of 12.82 million shares. The transport solutions business has recovered 55.02% since descending to a significant low of $9.87 around 29 days ago. So far this year, it has performed better than the Nasdaq by 29.23%. $1 billion was Lyft's last reported revenue with -52 cents being the current EPS.

| NI | 49% ($17.72) appreciation over 13 days ($1.36 per day average)

As the trading session draws to a close NI is ticking higher but remains broadly flat: the automated test equipment company is currently trading at $54.3 but remains in a $53.76 – $54.74 range. NI is scheduled to announce earnings results Tuesday. The consensus EPS estimate is 0.51 and the consensus revenue estimate is $453.89 million. Also, the firm paid out a quarterly dividend of 28 cents per share on Monday, November 28th to all active shareholders as of Monday, November 7th. Eligible investors secured a quarterly dividend yield of 2.06% for this year.

An 18 day, 44.49% rise for 10x Genomics

As the end of the trading session approaches, the US gene sequencer is up to $45.77 for an increase of 0.54% from $45.53 today.