- Buoyed by a strong session amid an uptrend, AIG is 11 cents away from testing key resistance at $61.09
- The lower Bollinger Band® is currently at $124.22 while the higher band is at $138.08
American International Group Inc's upper Bollinger Band® is at $62.3. AIG's run now faces a challenge at $61.09, which is only 11 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest AIG is set for a reversal in the coming days.
$37.5 marks the crossover point where Bank of America price action falls below its 10 day Simple Moving Average. Bank of America's upper Bollinger Band® is at $38.47, suggesting that a downward move may follow. In contrast, Bank of America is trending down and heading towards $37.35, which is only 21 cents away now. Hitting this support line might signal a change of direction.
Despite the market lacking direction, technical chart analysis strongly suggests Bank of America is positioned for a downward move in the near term.
Trend analysis indicates that JP Morgan Chase's CCI indicator is above +100. According to momentum evaluation, first developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In JP Morgan Chase's case, the RSI has fallen below 30, indicating the asset is oversold. According to asset volatility analysis, JP Morgan Chase's upper Bollinger Band® is now at $138.08. Chart analysis indicates JP Morgan Chase's recent run now faces a major challenge as concentrated supply is likely found at $135.64 with price action currently 42 cents away.
For the time being, JP Morgan Chase remains flat without a clear direction.
S&P Global's recent run now faces a major challenge as concentrated supply is likely found at $356.5 with price action currently $2.35 away. Around $356.86, S&P Global can look to establish a new bullish phase beyond its 200 day Simple Moving Average.
Overall, looking at the technical analysis landscape, it seems S&P Global might continue pointing upwards in the short term.
Fundamental indicators – highly important Crude Oil Inventories data from United States beat analyst expectations of -1 million with a reading of -3.69 million.