Teradyne stock (TER) price is near its immediate resistance mark of $112 and is waiting for a breakout. Moreover, the buyers are attaining strength and looking for an opportune moment. However, the stock geared up by 4% in the previous trading sessions, suggesting that the buyers intend to lead a fresh uptrend above the critical hurdle of $112, followed by $120.
The price action shows that TER stock is near to registering a decisive breakout above $115. Moreover, the stock is on a rising track, defending the yellow trendline mark on the charts. TER stock is maintaining the uptrend and holding the gains above the significant moving averages. Recently, the stock retested the 20-day EMA and showed a massive bounce of 4% intraday, suggesting an upcoming breakout is near.
On the other hand, the chart structure is showing too much volatility. If the price exceeds the resistance of $112, it will lead to a fresh breakout, attracting more buyers. Whereas, if it is unable to surpass that level, a double top pattern could form and the stock would face rejection leading to a further retracement. Investors have an eye on every ongoing move of the TER stock.
Teradyne, Inc. is a global supplier of automation equipment for tests and industrial applications. The Company’s business segments include Semiconductor tests, System Tests, Industrial Automation, and Wireless Tests. The Semiconductor Test segment includes operations related to designing, manufacturing, and marketing semiconductor test products and services.
At press time, TER stock was traded at $110.29 with an intraday gain of 4.06% showing bullishness. Moreover, the intraday trading volume surged 1.89%, at 2.174 Million. Furthermore, the market cap of TER stock is $17.099 Billion.
Daily Charts Shows Buyers Dominance
On the daily charts, TER stock is recovering from the bottom zone of $65 and continues to accumulate. After rebounding from its base, the stock pulled back and formed higher highs, regaining its previous swings above $100.
As per the Fib levels, TER stock is near 78.6%, which acted as a barrier. If it surpasses, it will lead to a massive breakout, and the stock will reach the next hurdle of $120.
What Technical Indicators Say?
On the 4 hours chart, TER stock is on a gain-streak and is riding on a bullish track. Moreover, the breakout is on the verge, and buyers are pumping and priming for an early indication of a decisive move.
The RSI curve shows a positive divergence and is near 65, showing a positive outlook.
The MACD indicator also initiated a bullish crossover and formed green bars on the histogram.
Conclusion:
TER stock still holds the gains and maintains the ongoing trend, showing buyers’ dominance. Moreover, the price is near a hurdle and a breakout is likely in the following sessions.
Technical Levels:
Support Levels:$100
Resistance Levels:$112 and $120
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/28/will-teradyne-stock-nyse-ter-register-a-breakout-above-112/