- Buoyed by a strong session amid an uptrend, Chunghwa Telecom is 19 cents away from testing key resistance at $36.76
- Upper Bollinger Band® currently at $37.06
Chart analysis suggests Chunghwa Telecom Co., Ltd.'s run now faces a challenge at $36.76, which is only 19 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Trend-focused traders would be interested to note that Chunghwa Telecom's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. Asset volatility analysis shows that Chunghwa Telecom's upper Bollinger Band® is at $37.06.
Notwithstanding Chunghwa Telecom's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
NewMarket's upper Bollinger Band® is now at $324.53. NewMarket's recent run now faces a major challenge as concentrated supply is likely found at $319.63 with price action currently $1.57 away. On the other hand, note that NewMarket is alternating around the $317.77 Fibonacci resistance level.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest NewMarket is set for a reversal in the coming days.
Chart analysis indicates JBG SMITH's run now faces a challenge at $20, which is only 30 cents away and will be interesting to follow. Concerning technical analysis and more specifically, trend indicators, around $19.68, JBG SMITH can look to establish a new bullish phase beyond its 21 day Simple Moving Average.
For the time being, JBG SMITH remains flat without a clear direction.
Fundamental indicators – United States Crude Oil Inventories released earlier showed a marked improvement to -5.19 million from the preceding data of -12.58 million, but fell short of the -3.31 million figure forecast by a consensus of market analysts.
Upcoming fundamentals: United States Initial Jobless Claims projected to decline to 230,000 while previous data was 225,000; data will be released tomorrow at 13:30 UTC.