In today’s Stock of the Day, let’s take a closer look at Motorola Solutions, which is currently under significant selling pressure. The entire market is experiencing a downturn, and Motorola Solutions is no exception. However, the bearish sentiment on this stock started much earlier than the broader market weakness.
A clear head and shoulders pattern, marked with a red rectangle, was formed over the past weeks. Last week, the neckline of this formation, marked in blue, was decisively broken, triggering a strong sell signal. Additionally, the price has slipped below the green uptrend line, reinforcing the long-term negative sentiment.
As long as the price remains below the neckline and the green uptrend line, the outlook remains bearish. Any attempts at a recovery would require the price to climb back above these broken supports, but for now, sellers remain in control.