- Ares Capital's downtrend is set to be challenged by looming key support at $19.3
- Upper Bollinger Band® currently at $78.43
Around $19.47, Ares Capital Corporation can look to establish a new bullish phase beyond its 3 day Simple Moving Average. The lower Bollinger Band® of Ares Capital is at $19.22. $19.3 is only 12 cents away for Ares Capital and might put a stop to its current downtrend.
Despite muted price action in Ares Capital, chart analysis indicates it is positioned for a bullish run in the short term.
Banco Bilbao Vizcaya Argentaria's recent run now faces a major challenge as concentrated supply is likely found at $7.47 with price action currently 3 cents away. Despite posting gains on yesterday, Banco Bilbao Vizcaya Argentaria slid below its 5 day Simple Moving Average at $7.41 during the last session — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $7.6, thereby suggesting that Banco Bilbao Vizcaya Argentaria is becoming overvalued.
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.
$76.75 marks the crossover point where The Hartford price action falls below its 21 day Simple Moving Average. The Hartford's upper Bollinger Band® is at $78.94, suggesting that a downward move may follow. Despite this, The Hartford is eyeing the $76.56 support line.
Despite the market lacking direction, technical chart analysis strongly suggests The Hartford is positioned for a downward move in the near term.
Comerica's run now faces a challenge at $70.72, which is only 71 cents away and will be interesting to follow. Despite posting gains on yesterday, Comerica slid below its 50 day Simple Moving Average at $69.55 during the last session — an early indicator that a negative trend could be emerging. On the other hand, note that 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. Comerica's lower Bollinger Band® is at $69.18, indicating that the market is oversold and fertile for new buyers.
Technical analysis of Comerica price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
Fundamental indicators – United States Crude Oil Inventories beat the 2 million projections, with 7.65 million.
Upcoming fundamentals: United States Core PCE Price Index (MoM) (Jan) scheduled to come out today at 13:30 UTC.