- Insulet's recent run now faces a challenge at $261.68
- Market bulls strengthened by lower Bollinger Band® currently at $211.24
As the trading day commences, technical analysis suggests Insulet Corporation's recent run now faces a major challenge as concentrated supply is likely found at $261.68 with price action currently $1.87 away. Trend analysis indicates that Insulet's CCI indicator is above +100. Analysis based on the asset volatility indicates that Insulet's upper Bollinger Band® is at $259.
For the time being, Insulet remains flat without a clear direction.
As the day gets underway, chart analysis suggests Dollar Tree is eyeing the $156.12 support line. Trend-focused traders would be interested to note that Dollar Tree's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. Momentum evaluation shows that the Relative Strength Index indicates Dollar Tree is in an overbought condition. Analysis based on the asset volatility indicates that Dollar Tree's upper Bollinger Band® at $159.05, suggesting a further decline is forthcoming.
Notwithstanding Dollar Tree's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Whirlpool made an initial foray below its 10 day Simple Moving Average around $136.49. Whirlpool is hovering around the $137.24 Fibonacci support level. In contrast, Whirlpool could begin to recover as it approaches significant support, now $1.95 away from $135.94. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Whirlpool to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Whirlpool is expected to attract significant bearish sentiment in the coming days.
Fundamental indicators – United States Chicago PMI (Oct) released today at 13:45 UTC with a figure of 45.2, while the previous figure was 45.7.
Upcoming fundamentals: United States ISM Manufacturing PMI (Oct) will be released tomorrow at 14:00 UTC.