- Buoyed by a strong session amid an uptrend, American Express is 18 cents away from testing key resistance at $180.49
- The lower Bollinger Band® is currently at $35.8 while the higher band is at $37.57
American Express chart analysis: American Express's run now faces a challenge at $180.49, which is only 18 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Momentum evaluation shows that the Relative Strength Index indicates American Express is in an overbought condition.
A persuasive break of this target could lead to higher losses. Around $18.94, Umpqua Bank can look to establish a new bullish phase beyond its 10 day Simple Moving Average.
Despite muted price action in Umpqua Holdings Corporation, chart analysis indicates it is positioned for a bullish run in the short term.
Around $111.57, Raymond James Financial can look to establish a new bullish phase beyond its 50 day Simple Moving Average. Price action overcame a known Fibonacci resistance level at $112.16 by around 47 cents with prices hammering out a $110.89 – $113.04 session range. Raymond James's lower Bollinger Band® is at $109.1, indicating that the market is oversold and fertile for new buyers. Raymond James Financial's run now faces a challenge at $111.93, which is only 70 cents away and will be interesting to follow.
Examining the technical analysis landscape, Raymond James might continue its downtrend in the short term.
Bollinger Band® analysis indicates that current price action is approaching the upper band at $37.57, thereby suggesting that HSBC is becoming overvalued. HSBC's recent run now faces a major challenge as concentrated supply is likely found at $37.3 with price action currently 4 cents away.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest HSBC is set for a reversal in the coming days.
Upcoming fundamentals: United States Consumer Price Index is expected tomorrow at 13:30 UTC.