NEW YORK – A day that started with celebratory new highs ended in a decisive victory for sellers, as the stock closed firmly in the red on Thursday. This sharp reversal suggests downward pressure is likely to continue when markets reopen on Monday.
The company’s shares finished the session at
0.70 (0.78%). The trading day began with significant promise, opening at
90.60**. However, this peak was met with a wall of selling pressure that triggered a relentless, session-long decline. The stock fell steadily throughout the day, hitting a low of $89.15 and closing just pennies above it.
In a telling sign of conviction from the sellers, after-hours trading was completely flat, with the stock remaining at $89.21. This lack of a post-market bounce indicates that buyers were not tempted to step in, even at the lower price.
Outlook for Monday:
The technical picture painted by Thursday’s session is overwhelmingly bearish, setting clear expectations for the week ahead.
-
The Bearish Case (Market Down): This is the highly probable scenario. Hitting a new 52-week high and then closing near the session low is a classic reversal signal, often indicating that the upward momentum has been exhausted and sellers have taken control. The lack of any significant bounce off the lows reinforces this negative sentiment. On Monday, traders will be closely watching the day’s low of $89.15. A break below this critical support level would likely confirm the downtrend and could lead to accelerated selling.
-
The Bullish Case (Market Up): The case for a positive open on Monday is extremely weak. For sentiment to shift, bulls would need to orchestrate a powerful move to reclaim the previous close of $89.91 and push back above the psychological $90 level. Given the severe selling pressure and lack of buying interest into the close, such a reversal appears unlikely.
Investors should be prepared for a lower opening on Monday. The market has signaled a clear shift in momentum, and the path of least resistance now appears to be to the downside.
