- American Financial bearish trend is facing a possible turning point at $139.07
- Falling prices have precipitated BlackRock's approach to its lower Bollinger Band® at $510.1
Visual analysis of American Financial's chart shows that American Financial Group, Inc. could begin to recover as it approaches significant support, now $1.6 away from $139.07. Dipping below could be an indication that further losses are ahead. Trend-focused traders would be interested to note that $141.07 marks the crossover point where American Financial price action falls below its 5 day Simple Moving Average.
For the time being, American Financial remains flat without a clear direction.
BlackRock's downtrend might be halted by its support level at $630.09, which is only $8.72 away. Despite being in the red so far in the current trading session, BlackRock peaked above its 5 day Simple Moving Average around $649.69 — typically an early indicator of a new bullish trend beginning to emerge. Despite this, price action pushed below a known Fibonacci support level at $640.84 by around $2.03 with prices hammering out a $637.9 – $663.22 range by session close.
Overall, looking at the technical analysis landscape, it seems BlackRock —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
Berkshire Hathaway made an initial foray below its 5 day Simple Moving Average around $293.45. Berkshire Hathaway plunged below the $289.66 Fibonacci support level; next know Fib target at $286.58. On the other hand, note that 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 Berkshire Hathaway to extend its recent losses.
$206.27 marks the crossover point where Visa Inc. price action falls below its 200 day Simple Moving Average. In contrast, a persuasive break of this target could lead to higher losses.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Visa Inc. to extend its recent losses.
Fundamental indicators – United States Interest Rate came out at four, while a consensus of analysts was expecting four.
Upcoming fundamentals: tomorrow at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 200,000 from the preceding figure of 263,000.