- Key support level at $153.72 currently only $1.05 away
- Prudential Financial's upper Bollinger Band® is at $110.69 which indicates a further downward move may follow.
Technical chart analysis shows a persuasive break of this target could lead to higher losses. Trend and momentum analysis indicates that around $155.06, American Express can look to establish a new bullish phase beyond its 10 day Simple Moving Average. According to asset volatility analysis, American Express's upper Bollinger Band® is at $157.93, suggesting that a downward move may follow.
For the time being, American Express remains flat without a clear direction.
Prudential Financial's bearish trend is facing a possible turning point at $101.9, which is only 73 cents away. Will be interesting to follow. Despite being in the red so far in the current trading session, Prudential Financial peaked above its 200 day Simple Moving Average around $102.77 — typically an early indicator of a new bullish trend beginning to emerge. The lower Bollinger Band® of Prudential Financial is at $102.83.
Technical analysis indicates that Prudential Financial's current downtrend might soon change course and start climbing up in the short term.
Analysis of New York Community Bank's recent price action suggests a convincing break of this target could pave the way for deeper losses. Trend-focused traders would be interested to note that New York Community Bank's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Asset volatility analysis shows that New York Community Bank's lower Bollinger Band® is at $8.45, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
For the time being, New York Community Bank remains flat without a clear direction.
AXIS Capital made an initial foray below its 10 day Simple Moving Average around $56.9. 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end. AXIS Capital's upper Bollinger Band® is at $58.15 which indicates a further downward move may follow. Despite this, AXIS Capital is eyeing the $56.73 support line.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts AXIS Capital to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the reinsurance specialist is expected to attract significant bearish sentiment in the coming days.
Fundamental indicators – United States Initial Jobless Claims matched projections, with new data release of 230,000.
Upcoming fundamentals: United States Producer Price Index is expected tomorrow at 13:30 UTC.