- Buoyed by a strong session amid an uptrend, Arch Capital is 7 cents away from testing key resistance at $62.17
- Moody's's upper Bollinger Band® is at $307.88 which indicates a further downward move may follow.
Arch Capital Group Ltd.'s CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. Arch Capital has just crossed its upper Bollinger Band® at $62.03, suggesting further gains could be on the cards. Despite this, 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end. Arch Capital's run now faces a challenge at $62.17, which is only 7 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 Arch Capital might continue pointing upwards in the short term.
CME Group made an initial foray below its 3 day Simple Moving Average around $171.42. CME Group crossed the lower Bollinger Band® at $169.36. On the other hand, note that bearish run for CME Group is facing a possible turning point at $169.45, which is only 26 cents away. If this support line fails to hold, the next target will be at $168.21.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting CME Group to extend its recent losses.
Concerning technical analysis and more specifically, trend indicators, Synchrony Financial's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. According to asset volatility analysis, the lower Bollinger Band® of Synchrony Financial is at $32.25. Support/Resistance levels obtained from chart analysis indicate that it will be interesting to follow how Synchrony Financial's run now faces a challenge at $33.17, which is only 52 cents away.
For the time being, Synchrony Financial remains flat without a clear direction.
Chart analysis indicates a persuasive break of this target could lead to higher losses. Trend and momentum analysis indicates that Moody's's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Asset volatility analysis shows that Moody's's lower Bollinger Band® is now at $276.65.
For the time being, Moody's remains flat without a clear direction.
Fundamental indicators – United States Building Permits (Nov) came out at 1.34 million, while a consensus of analysts was expecting 1.49 million.
Upcoming fundamentals: projections for United States Crude Oil Inventories are set for a continuation of decline with -1.66 million while previous data was 10.23 million; data will be released today at 15:30 UTC.