For those interested in the technical analysis, yesterday we formed a hammer candle as @Swage_17 suggested. With the volume that went through and the gap up today, we are looking at a potential 'morning star' formation which should signal a reversal.
Volumes so far have been decent, so we could have some institutions buying in now, this maybe in time before earnings which IMO will be strong. May is typically a down month for trading in general. Quite a number of US retail companies have outperformed despite the 'inflation' and rate hikes so the pressure downward is likely not based on fundamentals.
GDP figures from the US last night came in well below expectations and this is favourable for controlling current inflation levels - less risk of a rate hike and more chance of a rate cut via this metric.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)