- Strong bullish sentiment set to meet bearish fightback around key resistance at $34.93, currently 16 cents away
- The lower Bollinger Band® is currently at $29 while the higher band is at $42.16
GlaxoSmithKline PLC's recent run now faces a major challenge as concentrated supply is likely found at $34.93 with price action currently 16 cents away. Despite posting gains so far today, Glaxo slid below its 5 day Simple Moving Average at $34.67 in earlier trade — an early indicator that a negative trend could be emerging. GlaxoSmithKline's upper Bollinger Band® is at $35.73.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest GlaxoSmithKline is set for a reversal in the coming days.
Microsoft's run now faces a challenge at $237.39, which is only $1.08 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
As the trading day commences, technical analysis suggests Zillow Group's run now faces a challenge at $43.07, which is only 30 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Concerning technical analysis and more specifically, trend indicators, Zillow Group's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. According to momentum evaluation, the Relative Strength Index indicates Zillow Group is in an overbought condition. Analysis based on the asset volatility indicates that Zillow Group's upper Bollinger Band® is now at $42.16.
Notwithstanding Zillow Group's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Fundamental indicators – United States Consumer Price Index came out at -0.1%, while a consensus of analysts was expecting 0%.