Affirm ends cautiously higher - Analysis - 08-06-2022

Affirm Holdings' stock (AFRM) rose even after Apple announced a new buy now and pay later service in the annual developer's conference. 

The company reported that trade CEO has resigned starting June 30, while carrying on with a counseling capacity, getting half the current salary. 

The stock is suffering from negative pressures amid the dominance of the main downward trend in the medium and short terms, with negative signals from the RSI after reaching overbought levels, marking a profit of 2.66%, or 63 cents, and settling at 24.35, with trading volumes surpassing 17.4 million shares, below 10-day averages of 20.4 million shares. 

Therefore we expect the stock to return lower, targeting the support of 10.50, provided it settles below the resistance of 26.00. 

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Expected trend for today: Bearish