2U shakes off negative pressures - Analysis - 30-06-2022

6 months ago

2U's stock (TWOU) rose in the intraday levels after a report the educational tech company has received a purchase offer from Indian Byjuv for over a billion dollars, marking a profit of 17.42%, or 1.62 points, and settling at 10.92, with trading volumes surpassing 7.8 million shares, above 10-day averages of 2.4 million shares. 


The stock managed to shake off negative pressures, and surpassed the resistance of the 50-day SMA, while piercing the short-term downward trend line, countered by negative signals from the RSI.


Therefore we expect more gains for the stock, targeting the pivotal resistance of 14.12, provided it settles above the support of 9.13. 


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Expected trend for today: Bullish 

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