- Caterpillar's downward trend will be tested at $243.14 as key support
- The lower Bollinger Band® is currently at $7.97 while the higher band is at $8.81
$247.33 marks the crossover point where Caterpillar price action falls below its 50 day Simple Moving Average. Price action pushed below a known Fibonacci support level at $252.4 by around $6.26 with prices hammering out a $245.95 – $254.75 range by session close. Despite this, a convincing break of this target could pave the way for deeper losses.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Caterpillar to extend its recent losses.
LegalZoom's notable support and resistance levels: LegalZoom's recent run now faces a major challenge as concentrated supply is likely found at $8.82 with price action currently 19 cents away. With regards to technical trend indicators, chart analysis show that around $8.52, LegalZoom can look to establish a new bullish phase beyond its 3 day Simple Moving Average. LegalZoom is hovering above a known Fibonacci resistance level of $8.59. According to asset volatility analysis, LegalZoom's upper Bollinger Band® is now at $8.81.
For the time being, LegalZoom remains flat without a clear direction.
Ansys made an initial foray below its 5 day Simple Moving Average around $305.88. In contrast, a persuasive break of this target could lead to higher losses.
Looking forward, Ansys is poised to extend its strong downtrend and continue declining.
Fundamental indicators – United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -3.83 million, while the previous figure was 6.20 million.
Upcoming fundamentals: United States ADP Nonfarm Employment Change (Feb) will be released today at 13:15 UTC.