Yesterday and today have widened the BB width by about 20%. PPO looks slightly positive and RSI is under 60. Barring any existential issues the market has an upward bias. Energy and Health Care sectors are up while Communications, Discretionary and Financials are down.
Hound of the day is LUMN. They had a terrible 2022 and lost over half their value. Apparently falling knife investors were so convinced that $6 was the bottom they've followed it down to $2.35. This is another one trading at a small portion of their enterprise value, (~12%). Seeking Alpha analysts are all over the place from a strong buy to a sell. Wall Street is equally confused; two strong buys, two strong sells and nine other analysts in between.
I asked the Magic 8 Ball and it said; Reply hazy, try again. If the 8 ball doesn't know, no one does..:)
The stock market is a device for transferring money from the impatient to the patient. - WB
