- Solid trading session sets up assault on pivotal resistance at $223.35; currently $2.04 away
- The lower Bollinger Band® is currently at $62.44 while the higher band is at $68.92
Around $222.93, Illumina can look to establish a new bullish phase beyond its 21 day Simple Moving Average. On the other hand, note that Illumina's run now faces a challenge at $223.35, which is only $2.04 away and will be interesting to follow.
Overall, looking at the technical analysis landscape, it seems Illumina might continue pointing upwards in the short term.
$66.43 marks the crossover point where Johnson Controls price action falls below its 10 day Simple Moving Average. Bollinger Band® analysis indicates that current price action is approaching the upper band at $68.92, thereby suggesting that Johnson Controls is becoming overvalued. It will be interesting to follow how Johnson Controls's run now faces a challenge at $67.97, which is only 66 cents away.
Examining the technical analysis landscape, Johnson Controls is likely to reverse course and start pointing downward in the short term.
Eaton made an initial foray below its 10 day Simple Moving Average around $164. Despite this, Eaton is trending down and heading towards $160.44, which is only $2.05 away now. Hitting this support line might signal a change of direction.
Looking forward, Eaton is poised to extend its strong downtrend and continue declining.
Fundamental indicators – United States ISM Manufacturing PMI (Nov) released today at 15:00 UTC with a figure of 49, while the previous figure was 50.2.
Upcoming fundamentals: United States Non Farm Payrolls projected to come out at 200,000 — worse than previous data of 261,000; data will be released tomorrow at 13:30 UTC.