Redbox seeks a bottom to bolster it - Analysis - 23-06-2022

2022-06-23 11:50:48 GMT (Economies.com)
 

Redbox Entertainment's stock (RDBX) fell in the intraday levels even after reporting retail sales up 12.8% y/y in the week ending June 18, due to Father Day sales, and the fourth of July sales, marking a loss of 12.93% in the last session, or 1.5 points, settling at 101.0, with trading volumes surpassing 8.6 million shares, below 10-day averages of 31.2 million shares.

 

The stock is moving alongside the upward correctional short-term trend line, seeking a bottom to bolster it higher, amid positive pressure from the 50-day SMA, countered by negative signals from the RSI.

 

Therefore we expect the stock to return higher, targeting the first resistance at 13.35, provided the support of 8.56 holds on.

 

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Expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.0427
-0.0154
1.4550%
1.2096
-0.0176
1.4311%
19.698
-1.669
7.811%
108.022
0.605
0.563%
111.50
2.47
2.27%
1799.775
-29.770
1.627%
 
 
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