- Landstar bearish trend is facing a possible turning point at $170.65
- The upper Bollinger Band® of Columbia is at $94.87.
Columbia Sportswear Company made an initial foray below its 5 day Simple Moving Average around $88.91. In contrast, Columbia's run now faces a challenge at $88.34, which is only $1.12 away and will be interesting to follow.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Columbia to extend its recent losses.
$171.95 marks the crossover point where Landstar price action falls below its 5 day Simple Moving Average. On the other hand, note that bearish run for Landstar is facing a possible turning point at $170.65, which is only 27 cents away. If this support line fails to hold, the next target will be at $168.78.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Landstar to extend its recent losses.
Despite being in the red so far in the current trading session, the New York Times peaked above its 21 day Simple Moving Average around $35.16 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $33.9, a low enough level to, generally, suggest that the New York Times is trading below its fair value. A persuasive break of this target could lead to higher losses.
Technical analysis shows that the New York Times (currently on a downtrend) might reverse course and start going up in the short term.
Fundamental indicators – United States ISM Non-Manufacturing PMI (Nov) released yesterday at 15:00 UTC with a figure of 56.5, while the previous figure was 54.4.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with -3.88 million. It previously stood at -12.58 million; data will be released tomorrow at 15:30 UTC.