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

Published: January 26 2023, 07:20 GMT+0

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

Lyft, Inc., National Instruments Corporation, 10x Genomics, Inc. are the ones to notice as they lead stocks on an uptrend.

Markets did not have a clear cut direction — Nasdaq shed 0.18% and closed at 11,300. S&P 500 closed at 4,016.22 after a flat day.

This limbo state is reflected by market data published as highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000.

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; goes up 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 and reaches $15.86. Daily trading volume (16.12 million shares) was slightly above the current multiday average of 12.82 million.

NI continues a 13 day uptrend; moves up 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. Trading volume totalled 1.62 million which equates to around 65% of the stock's 21-day average yesterday. NI is scheduled to announce earnings results Tuesday. The consensus EPS estimate is 0.51 and the consensus revenue estimate is $453.89 million. NI disclosed a quarterly dividend of 28 cents per share on Wednesday, October 19th that was paid on Monday, November 28th to all shareholders of record up until Monday, November 7th. Based on current prices, the company's decision thereby provides NI investors with an annual dividend yield of 2.06%.

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.