- Dollar Tree is trading at $139.97; its target level is $138.82
- Market bulls strengthened by lower Bollinger band currently at $272.74
$139.83 marks the crossover point where Dollar Tree Inc price action falls below its 21 day Simple Moving Average. The upper Bollinger band of Dollar Tree is at $144.11. On the other hand, note that Dollar Tree is eyeing the $138.82 support line.
Despite the market lacking direction, technical chart analysis strongly suggests Dollar Tree is positioned for a downward move in the near term.
Technical analysis shows that Adobe's run now faces a challenge at $304.79, which is only $4.96 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Trend and momentum analysis indicates that Adobe's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. Asset volatility analysis shows that Adobe's upper Bollinger band is at $303.68.
Notwithstanding Adobe's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Around $428.6, ASML can look to establish a new bullish phase beyond its 21 day Simple Moving Average. ASML is alternating around the $424.21 Fibonacci resistance level. Despite this, ASML's recent run now faces a major challenge as concentrated supply is likely found at $433.75 with price action currently $9.73 away.
Overall, looking at the technical analysis landscape, it seems ASML might continue pointing upwards in the short term.
Fundamental indicators – United States Crude Oil Inventories published yesterday at 14:30 UTC came out at -1.73 million, falling short of the 1.38 million projections and continuing its decline from the previous 9.88 million figure.
Upcoming fundamentals: United States Philadelphia Fed Manufacturing Index (Oct) scheduled to come out today at 12:30 UTC.