Muted market sets the stage for 3 stocks to re-join their prevailing uptrends

Published: January 26 2023, 05:20 GMT+0

Muted market sets the stage for 3 stocks to re-join their prevailing uptrends

Lyft, Inc., National Instruments Corporation, 10x Genomics, Inc. and others are trending higher.

Markets did not have a clear cut direction — Nasdaq lost 0.18% and ended the session at 11,300. S&P 500 closed 4,016.22 after a stable day.

This limbo state is reflected by market data published as data from United States concerning Crude Oil Inventories was released yesterday at 15:30 UTC. Newly published figures emphasized continued decline from last month's figure of 8.41 million to 533,000 this month.

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 continues a 19 day uptrend; improves 3.66% yesterday

After setting a $14.65 – $15.88 range, Lyft, Inc. closed the day at $15.86 having risen 3.66%. After dipping down to $14.65, Lyft regained earlier losses, closing higher at $15.86. Daily trading volume (16.12 million shares) was slightly greater than the current multiday average of 12.82 million.

NI continues a 13 day uptrend; ascends 0.35% yesterday

After setting a $53.76 – $54.74 range, NI closed the day at $54.35 having risen 0.35%. Generally flat but with a slight bullish bias, NI ranged between $53.76 and $54.74 before closing higher at $54.35. The day's trading volume totalled 1.62 million shares — under the 21-day average of 2.51 million.

NI is scheduled to announce earnings results Tuesday. The consensus Earnings Per Share estimate is 0.51 and the consensus revenue estimate is $453.89 million.

10x Genomics continues an 18 day uptrend; climbs 1.03% yesterday

After setting a $43.22 – $46.04 range, 10x Genomics closed the day at $46 having risen 1.03%. 10x Genomics went up to $46 yesterday after ending Tuesday at $45.53. Overall, a 1.03% move or 47 cents. The day's trading volume totalled 1.16 million shares — slightly below the 21-day average of 1.21 million.

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