- Key support level at $64.71 currently only 43 cents away
- Allstate's upper Bollinger Band® is at $136.32 which indicates a further downward move may follow.
Trend-focused traders would be interested to note that Assured Guaranty Ltd.'s CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. According to asset volatility analysis, the upper Bollinger Band® of Assured Guaranty is at $67.17. Chart analysis suggests bearish run for Assured Guaranty is facing a possible turning point at $64.71, which is only 43 cents away. If this support line fails to hold, the next target will be at $63.25.
For the time being, Assured Guaranty remains flat without a clear direction.
Bearish run for Globe Life is facing a possible turning point at $119.79, which is only $1 away. If this support line fails to hold, the next target will be at $118.45. Globe Life made an initial foray below its 5 day Simple Moving Average around $119. The upper Bollinger Band® of Globe Life is at $121.53.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Globe Life.
$197.61 marks the crossover point where Gallagher price action falls below its 10 day Simple Moving Average. Gallagher is hovering around the $199.29 Fibonacci support level. On the other hand, note that bearish run for Gallagher is facing a possible turning point at $198.45, which is only $1.62 away. If this support line fails to hold, the next target will be at $195.64.
Several technical indicators are adding weight to the bearish momentum seen today and forecasting Gallagher to extend its recent losses.
$128.43 marks the crossover point where Allstate price action falls below its 200 day Simple Moving Average. Despite this, Allstate's bearish trend is facing a possible turning point at $128.88, which is only 44 cents away. Will be interesting to follow. Bollinger Bands® shows an indication of recovery: the lower band is at $127.6, a low enough level to, generally, suggest that Allstate is trading below its fair value.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Allstate.
Fundamental indicators – United States ISM Non-Manufacturing PMI (Nov) came out at 56.5, while a consensus of analysts was expecting 53.3.
Upcoming fundamentals: United States EIA Short-Term Energy Outlook is expected tomorrow at 17:00 UTC.