In the fast-evolving world of cybersecurity, Gen Digital (NASDAQ: NASDAQ:GEN ), a key player renowned for its Norton and Avast services, recently faced a turbulent ride on the stock market. The company witnessed an 11.2% drop in its stock price during the latest trading session, leaving investors and analysts disappointed. This decline was attributed to Gen...
We have fallen through the trading range prevailing since 12th September.
As we are in a downtrend since 7th August it can be seen as a continuation of this trend.
NASDAQ:GEN has formed a double bottom on the daily chart. A break and hold above the $18.09 price on the daily time frame will be entry point for pattern confirmation. The target is $20.66 with one possible resistance in the way at $19.59. Currently the RSI is overbought.
The PEAD projected a bearish outlook for $GEN after a Negative under reaction following its earnings release placing the stock in drift D with an expected accuracy of 55.56%.
