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Microvision Stock Defies The S&P 500, May Be Forming Bullish Pattern: Here's How To Trade It

Benzinga Real-time News ·  Apr 30, 2022 04:07

Microvision, Inc(NASDAQ:MVIS) shares spiked over 12% higher at one point on Friday, after sinking over 10% in one instance Thursday due to a bearish reaction to the company printing a first-quarter earnings miss.

The stock was trading over 2.5% higher Friday afternoon, defying the general markets, with theS&P 500trading down about 3.2% lower.

The lidar sensor development company has lost over 88% of its value since April 27, 2021, when it hit a high of $28. The most recent downturn has started to print a curl to the upside on the daily chart, which could develop into a cup-and-shoulder pattern on...

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