Victoria's Secret rises in volatile session - Analysis - 02-06-2022

Victoria's Secret's stock (VSCO) rose in the intraday levels amid positive signals from the RSI after reaching oversold levels, ending a volatile session with a profit of 8.93%, or 3.68 points, and settling at 44.89, with trading volumes surpassing 5 million shares, above 10-day averages of 2.5 million shares, amid the dominance of the main downward short-term trend, with negative pressure from the 50-day SMA.

The company reported  a profit of $1.11 per share, passing estimates of 84 cents on sales of $1.48 billion. 

Therefore we expect the stock to return lower, targeting the pivotal support of 40.06, provided the resistance of 48.12 holds on.

Expected trend for today: Bearish