Arrow Electronics Inc. Stock Code ARW.NYS
Price broke and closed above the cloud two days ago and the next day, there was confirmation of the breakout when price stayed and closed above the cloud for a second consecutive day. Price also triggered an Ichimoku Reversal breakout as well. Conversion and Base lines had a bullish crossover, hinting of a bullish price trend. Lagging Span is above price of 26 days ago and above the cloud as well, confirming the bullish price trend. MACD is turning bullish with the faster line moving above the zero line and the slower line is now close to the zero line. We think price is likely to move higher to the Ichimoku V shaped price projection at $124.29, which is close to the previous high at $124.90, in the next 2 weeks.
$124.90 Price Target
$116.10 Risk Management Stop
2 weeks Trade Duration