(Finance) – The stock moves down Seagate Technology which changes hands with a loss of 3.40%.
Memory maker cut first quarter estimates: i revenues between 2 and 2.2 billion dollars are now expected against the range of 2.35-2.65 billion indicated in the previous guidance. L’adjusted profit it is seen lower than the forecast set at $ 1.20 per share.
The technical scenario seen at one week of the stock compared to the index S & P-500highlights a slowdown in the trend ofAmerican company active in the storage sector compared toUS basketball indexand this makes the stock a potential target for sale by investors.
The technical scenario of Seagate Technology shows a widening of the descending trendline at the test of the 65.5 USD support with the resistance area identified at 68.21 level. The bearish figure suggests the likelihood of testing new identifiable bottoms in the 63.95 area.