Generac leans on SMA support - Analysis - 01-06-2023

Generac Holdings' stock (GNRC) fell in the intraday levels amid the dominance of the upward correctional trend in the short term, while the stock gathers momentum to rise anew, marking a loss of 3.82% in the last session, or 4.33 points, settling at 108.92, and leaning on the support of the 50-day SMA, as the RSI reached oversold levels compared to the stock's movements. 

Therefore we expect the stock to return higher, targeting the pivotal resistance of 141.50, provided the support of 103.30 holds on.

Expected trend for today: Bullish