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Benzinga
Benzinga
Business
Melanie Schaffer

Here's What To Watch On Weber As The Meme Stock Battles Key Bull, Bear Indicator

Weber NYSE

Weber, Inc (NYSE:WEBR) was plunging about 12% at one point Tuesday after failing to hold above the 200-day simple moving average, despite the algorithms gapping the stock above the area to start the day.

The 200-day SMA is an important bellwether. Technical traders and investors consider a stock trading above the level on the daily chart to be in a bull cycle, whereas a stock trading under the 200-day SMA is considered to be in a bear cycle.

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