Unity Shares Rose About 15% After Earnings as S&P 500 Fell More Than 4%

Unity Software shares rose about 15% on Thursday, Nov. 5, after its latest earnings report, while the S&P 500 fell more than 4%, making the stock a standout amid the market decline.

The company makes software for developers creating video games and interactive 3D projects, as well as advertising tools to help them earn revenue from those creations.

In a Monday chart analysis, Jay Woods with Chase Games said Unity had formed a double bottom, recovered its 50-day and 200-day moving averages, then gapped above a bullish flag pattern. He said the stock’s next technical test was $50.

“The last hurdle is to clear this $50 level and close above it for a few consecutive days,” Woods wrote.