UiPath (PATH) offers "a robotic process automation tool for large-scale end-to-end automation." This sounds like a business we should be looking at but are the charts in agreement?
The shares plunged on Wednesday after the robotic process automation software company lowered its fiscal 2023 guidance, so let's check.
In the daily bar chart of PATH, below, we can see that the shares have been in a downward trend the past 12 months. A minor low in May is giving way to new lows for the move down. PATH trades below the bearish 50-day and 200-day moving average lines.
The On-Balance-Volume (OBV) line is pointed down into September and tells us that sellers of PATH are more aggressive than buyers. The Moving Average Convergence Divergence (MACD) oscillator is bearish.