- Bio-Rad's recent run now faces a challenge at $423.31
- The lower Bollinger Band® is currently at $54.57 while the higher band is at $86.97
Bio Rad Laboratories Inc's recent run now faces a major challenge as concentrated supply is likely found at $423.31 with price action currently $4.25 away. Despite posting gains on Friday, Bio-Rad slid below its 5 day Simple Moving Average at $406.95 during the last session — an early indicator that a negative trend could be emerging.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Bio-Rad Laboratories is set for a reversal in the coming days.
Trend and momentum analysis indicates that Pinduoduo's CCI indicator is above +100. Momentum evaluation shows that the Relative Strength Index indicates Pinduoduo is in an overbought condition. Asset volatility analysis shows that Pinduoduo's upper Bollinger Band® is at $86.97. Visual analysis of Pinduoduo's chart shows that Pinduoduo's run now faces a challenge at $88.82, which is only $2.48 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
For the time being, Pinduoduo remains flat without a clear direction.
Around $127.02, 3M can look to establish a new bullish phase beyond its 21 day Simple Moving Average. 3M is alternating around the $126.6 Fibonacci resistance level. In contrast, 3M's recent run now faces a major challenge as concentrated supply is likely found at $128.08 with price action currently $1.09 away.
Overall, looking at the technical analysis landscape, it seems 3M might continue pointing upwards in the short term.
Upcoming fundamentals: United States ISM Non-Manufacturing PMI (Nov) scheduled to come out today at 15:00 UTC.