Market Overview

TrueCar Finds Resistance After B. Riley Upgrade

Share:

TrueCar Inc (NASDAQ: TRUE) shares are trading higher by $0.26 (2.5 percent) at $10.07 in Monday's session. The catalyst for the rally is an upgrade from B. Riley from Neutral to Buy.

Following a higher opening print ($10.08), which currently stands as the low for the day, the issue rallied to $10.50 before reversing course. That high is just one penny shy of its August 25 high of $10.51.

The ensuing decline has taken the issue back to the low from the open. In order to fill the void in price from Friday's session, it would need to fall to $9.84 to reach the upper-end of Friday's trading range.

Today's price action is taking place on much higher than average volume. With over five hours remaining, it has already traded 500,000 shares compared to its 200day average of 434,000 shares.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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