- Buoyed by a strong session amid an uptrend, Credicorp is 40 cents away from testing key resistance at $136.97
- Credicorp's upper Bollinger Band® was crossed by Credicorp at $136.45.
$26.2 marks the crossover point where Ally Financial Inc. price action falls below its 21 day Simple Moving Average. On the other hand, note that Ally Financial is eyeing the $25.69 support line.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Ally Financial to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the financial services provider is expected to attract significant bearish sentiment in the coming days.
Credicorp's CCI indicator is above +100. Credicorp crossed the upper Bollinger Band® at $136.45. Despite this, Credicorp's run now faces a challenge at $136.97, which is only 40 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Overall, looking at the technical analysis landscape, it seems Credicorp might continue pointing upwards in the short term.
A study of First American's chart reveals various key levels to watch: First American's run now faces a challenge at $56, which is only $1.58 away and will be interesting to follow. Trend-focused traders would be interested to note that as First American's MACD index generated a crossover buy signal, the medium-term indication has turned positive. This occurs as the MACD line crosses above the MACD signal line. Asset volatility analysis shows that First American's upper Bollinger Band® is at $58.29, suggesting that a downward move may follow.
Overall, while First American has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
XP made an initial foray below its 3 day Simple Moving Average around $13.88. Price action pushed below a known Fibonacci support level at $14.21 by around 5.92 cents with prices hammering out a $13.85 – $14.4 range by session close. In contrast, bearish run for XP is facing a possible turning point at $13.93, which is only 22 cents away. If this support line fails to hold, the next target will be at $13.57.
Several technical indicators are adding weight to the bearish momentum seen today and forecasting XP to extend its recent losses.
Fundamental indicators – United States ISM Manufacturing PMI (Apr) came out at 47.1, while a consensus of analysts was expecting 46.8.
Upcoming fundamentals: United States JOLTs Job Openings (Mar) will be released tomorrow at 14:00 UTC.