- Strong bullish sentiment set to meet bearish fightback around key resistance at $80.94, currently 76 cents away
- The lower Bollinger Band® is currently at $84.57 while the higher band is at $105.52
PayPal's recent run now faces a major challenge as concentrated supply is likely found at $80.94 with price action currently 76 cents away. Despite posting gains on yesterday, PayPal slid below its 3 day Simple Moving Average at $79.27 during the last session — an early indicator that a negative trend could be emerging.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest PayPal is set for a reversal in the coming days.
Trend-focused traders would be interested to note that HSBC Holdings's CCI indicator is above +100. According to momentum evaluation, the Relative Strength Index indicates HSBC Holdings is in a strong overbought condition. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $37.12, thereby suggesting that HSBC Holdings is becoming overvalued. HSBC's notable support and resistance levels: HSBC Holdings's run now faces a challenge at $36.76, which is only 46 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
For the time being, HSBC remains flat without a clear direction.
Concerning technical analysis and more specifically, trend indicators, Capital One's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. Asset volatility analysis shows that Capital One's upper Bollinger Band® is at $105.52. Technical analysis shows that Capital One's recent run now faces a major challenge as concentrated supply is likely found at $104.53 with price action currently 90 cents away.
Notwithstanding Capital One's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Assured Guaranty made an initial foray below its 50 day Simple Moving Average around $61.87. Price action remains constrained around the key Fibonacci level of $61.15 currently serving as support. If price action breaks below, the next Fib hurdle is $59.48. On the other hand, note that Assured Guaranty is eyeing the $59.57 support line. The lower Bollinger Band® of Assured Guaranty is at $60.28.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Assured Guaranty.
Fundamental indicators – United States NY Empire State Manufacturing Index (Jan) released yesterday at 13:30 UTC with a figure of -32.9, while the previous figure was -11.2.
Upcoming fundamentals: as things stand, upcoming United States Producer Price Index data is projected to fall short of market expectations with newly published data of -0.1%, following on from the preceding figure of 0.3%. New data is set to be published today at 13:30 UTC.