Express rises in negative zone - Analysis - 26-05-2022

Express' stock (EXPR) rose in the intraday levels after the retailer marked a less-than-expected loss in the first quarter, marking a profit of 6.72% in the last session, or 16 cents, and settling at 2.54, with trading volumes surpassing 11.7 million shares, above 10-day trading averages at 4.4 million shares. 

The stock is moving alongside the downward short-term trend line, with negative pressure from the 50-day SMA, coupled with positive signals from the RSI after reaching oversold levels, amid attempts to vent off oversold saturation. 

Therefore we expect the stock to return lower, targeting the support of 1.82, provided it settles below the resistance of 2.83. 

Expected trend for today: Bearish