Array Technologies $ARRY Break Below 50 Day Moving Average After Dark Pool Selling

Get Email Alerts and Follow Us:
SOCIALICON

Array Technologies $ARRY stock broke below its 50 day moving average on December 27, 2022. Dark pool trading was recently detected in $ARRY stock. The stock is in a technical uptrend.

Array Technologies stock chart on December 27 2022 with a break below the 50 day moving average
Array Technologies stock chart on December 27 2022 with a break below the 50 day moving average

Dark Pool Trade In Array Technologies $ARRY Stock

A dark pool trade occurred in Array Technologies stock on December 20, 2022. The trade was valued at $4.4 million. We think the dark pool trade was a sell order because $ARRY stock fell following the trade hitting the tape.

Array Technologies stock chart on December 27 2022 with a dark pool trade shown with an orange bar
Array Technologies stock chart on December 27 2022 with a dark pool trade shown with an orange bar

Make sure to review this lesson on dark pool trading so that you understand the chart above.

Array Technologies initiated with an Overweight at Cantor Fitzgerald

Array Technologies was given an Overweight rating and a $26 price target by Cantor Fitzgerald analyst Derek Soderberg on December 23, 2022. Soderberg writes in a research note to investors that given the company’s track record, strong supply chain, and differentiated product offering, Array is a logical long-term partner for engineering, procurement, and construction companies as well as utility-scale solar operators. According to the analyst, Array has a dominant or second-place market position in the US, which will put it in a good position to gain from growing US-specific tailwinds.

Why Array Technologies (ARRY) Stock Gained 29% During Today’s Session

Get Email Alerts and Follow Us:
SOCIALICON