- Strong bullish sentiment set to meet bearish fightback around key resistance at $52.27, currently 54 cents away
- Upper Bollinger band currently at $116.07
American International Group Inc's recent run now faces a major challenge as concentrated supply is likely found at $52.27 with price action currently 54 cents away. Bollinger band analysis indicates that current price action is approaching the upper band at $52.87, thereby suggesting that AIG is becoming overvalued.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest AIG is set for a reversal in the coming days.
Banco Bilbao Vizcaya Argentaria's upper Bollinger band is at $4.9. Banco Bilbao Vizcaya Argentaria's run now faces a challenge at $4.8, which is only 3 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. In contrast, Banco Bilbao Vizcaya Argentaria is hovering above a known Fibonacci resistance level of $4.75.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Banco Bilbao Vizcaya Argentaria is set for a reversal in the coming days.
Around $33.4, Bank of America can look to establish a new bullish phase beyond its 50 day Simple Moving Average. On the other hand, note that Bank of America's upper Bollinger band is now at $33.69. Bank of America's run now faces a challenge at $34.04, which is only 42 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
According to technical analysis, it looks as if Bank of America likely to continue pointing upward in the short term.
Technical chart analysis shows JP Morgan Chase's run now faces a challenge at $117.14, which is only $1.28 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Trend-focused traders would be interested to note that JP Morgan Chase's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. According to asset volatility analysis, JP Morgan Chase's upper Bollinger band is now at $116.07.
Overall, while JP Morgan Chase has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Fundamental indicators – United States NY Empire State Manufacturing Index (Oct) released yesterday at 12:30 UTC with a figure of -9.1, while the previous figure was -1.5.
Upcoming fundamentals: United States Crude Oil Inventories expected to decline to 1.55 million while its preceding data was 9.88 million, data will be available tomorrow at 14:30 UTC.