The Spider Small-Cap 600 ETF (NYSE: SLY) extended its winning streak to four-straight sessions following the intraday push to $96.37. Prior and lower resistance from early March at $96-$96.50 was breached but held. A close above the latter would signal additional upside towards $97.50-$98. Support is at $95-$94.50 followed by $93.50-$93. RSI (relative strength indicator) […]
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The iPath S&P Vix Short-Term Futures (NYSEArca: VIX) snapped a three-session losing streak despite testing an opening low of 17.35. Near-term and upper support at 17.25-16.75 was challenged for the second-straight session. A close below the latter would indicate additional weakness towards 16-15.50. The bounce to 18.40 afterwards cleared but failed to hold lower resistance […]
Shares of GameStop Corp. (NYSE: GME) zoomed 51% following a trading halt as short-sellers continue to get hammered. The short interest in GameStop reached 138% of the shares available for trading last week, and continues to drive the stock up for its massive short squeeze. The company recently stated its holiday sales were down […]
Shares of Diebold Nixdorf Inc. (NYSE, DBD) surged nearly 17% after an analyst upgrade to Overweight from Neutral with a price target of $16, up from $10. The analyst said Diebold is a “deep value stock” and upgraded the shares ahead of a product ramp in the second half of 2021. Additionally, they see continued […]
Shares of BlackBerry Ltd. (NYSE: BB) rallied 8% after the company said it has settled the disputes over patent royalties against Facebook Inc. (Nasdaq: FB) for terms that weren’t disclosed. BlackBerry had sued Facebook in 2018 in a fight over messaging patents and was then countersued over patents for voice messaging technology.
Bulls Get Weekly Win Despite Friday’s Flat Action The market lost ground on Friday following a flood of economic news and inaction from Congress on developments for a coronavirus relief package. No deal was announced on that front as lawmakers have broken for recess until Labor Day. Despite the flat session, the major indexes posted […]