Factset Research skids - Analysis - 23-09-2022

Factset Research Systems' stock (FDS) skidded in the intraday levels after missing estimates for its fourth quarter profits at $3.13 per share, while analysts expected $3.21 per share, with the stock slumping 8.29% in the last session, or 35.70 points, and settling at 394.75, with trading volumes surpassing 1.2 million shares above 10-day averages of 380 thousand. 

Technically, the stock is pressured by trading below the 50-day SMA, amid negative signals from the RSI, entering a new descending correctional wave in the short term. 

Therefore we expect more losses for the stock, targeting the support of 346.30, provided the support of 388.00 was breached. 

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Expected trend for today: Bearish