Moody’s Corp is showing signs of life. At last week’s low the stock had extended its drop from the 2021 all-time highs to 38%. This deep sell off drove shares below its 2021 lows as well as the 40 week moving average. Since Mondays’ open MCO has been steadily recovering.
MCO has been tracing out a divergent low(positive) in its daily MACD indicator since late January. MCO’s weekly MACD remains near its deepest over sold reading on record, far more oversold than at the March 2020 lows.
After closing last week below the 40W MAV($265.55), it would be encouraging to see shares close out this week back above.
Not a recommendation to buy, sell or hold.