Written By: ChartChamp
March 13, 2024
Yesterday the stock market had a bullish reaction to the worse than expected data, and $QQQ has climbed back above the yellow trendline. Today $QQQ is red and appears to be trending down to retest this yellow trendline as support. A lot of important data will be released tomorrow, and I think the markets are patiently waiting for that additional data. For now, $QQQ continues to trade around this yellow trendline.
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SIRI has announced a 1:10 reverse stock split, which is usually bearish for most stocks. SIRI is also losing support at a key support zone between $29.90 and $36.48. I think SIRI desperately needs to rebound around $24.50 to have any hope of climbing back above $29.90 support. If SIRI fails to remain above $24.50 […]
Read MoreModerna announced plans to cut $1.1 billion in expenses by 2027 as it adapts to a post-COVID business environment. The company aims to win approval for 10 new products by 2027 but will also pause or scrap some projects to manage R&D spending. Moderna’s shares dropped by over 17% following the news, reflecting concerns about […]
Read MoreMedical Properties Trust (MPW) announced a global settlement with Steward Health Care System and its creditors, which allows MPT to regain control over 15 hospitals and transition their operations to four new quality operators. The agreement ends MPT’s relationship with Steward and ensures that the hospitals remain operational under new management in states such as […]
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SIRI has announced a 1:10 reverse stock split, which is usually bearish for most stocks. SIRI is also losing support at a key support zone between $29.90 and $36.48. I think SIRI desperately needs to rebound around $24.50 to have any hope of climbing back above $29.90 support. If SIRI fails to remain above $24.50 […]
Read MoreModerna announced plans to cut $1.1 billion in expenses by 2027 as it adapts to a post-COVID business environment. The company aims to win approval for 10 new products by 2027 but will also pause or scrap some projects to manage R&D spending. Moderna’s shares dropped by over 17% following the news, reflecting concerns about […]
Read MoreMedical Properties Trust (MPW) announced a global settlement with Steward Health Care System and its creditors, which allows MPT to regain control over 15 hospitals and transition their operations to four new quality operators. The agreement ends MPT’s relationship with Steward and ensures that the hospitals remain operational under new management in states such as […]
Read More