After two straight losses, Kodak’s (NYSE: KODK) shares fell 9.41% to $4.91. After two consecutive losing sessions, the NYSE falls 1.54% to $15,326.59. The downtrend appears to be fully developed in today’s trading session.
Kodak closed at $4.46, down 60.39% from its 52-week high of $11.26. Today’s last volume recorded by Kodak was 472888, down 74.08% from the average volume of 1824661. The company’s revenue increased 13.9% year-over-year to $1.14 billion over the past twelve months.
Moreover, the company’s earnings report will be announced tomorrow, 10 May 2022. Since the company’s revenues have increased, we can expect a rise in the earnings. In that case, the share price may see a surge towards $5.50 to $6.00. Alternatively, if the earnings report shows downbeat results, the stock may further plunge towards $4.50 ahead of $4.00.
The daily chart of the KODK stock shows that the price has been in a downtrend since 31 March 2022. However, the overall trend is positive, with a YTD gain of 5.36%. Meanwhile, the stock has been up 16% in the last three months’ price history. All the key SMAs on the daily chart have been pointing lower. The price has recently broken below the 100-day SMA. It indicates a potential for further losses. Conversely, if the price finds any strong upside push, it may rise back above the $5.50 mark and stall near the 20-day SMA.
So, the stock is good to buy around $3.5 to $4.00. However, the price has a tendency to get bounced off the support levels as the profit-taking may occur while the oversold conditions may limit the losses.
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