- Discover bearish trend is facing a possible turning point at $103.26
- Upper Bollinger Band® currently at $3.22
Discover Financial Services's upper Bollinger Band® is at $106.39. In contrast, Discover Financial Services could begin to recover as it approaches significant support, now 20 cents away from $103.26. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Discover to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the US financial services company is expected to attract significant bearish sentiment in the coming days.
Concerning technical analysis and more specifically, trend indicators, Banco Santander, S.A.'s CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. According to momentum evaluation, the Relative Strength Index indicates Banco Santander, S.A. is in an overbought condition. According to asset volatility analysis, Banco Santander, S.A.'s upper Bollinger Band® is now at $3.22. As the day gets underway, chart analysis suggests Banco Santander, S.A.'s run now faces a challenge at $3.26, which is only 3 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, while Banco Santander, S.A. has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
As the trading day commences, technical analysis suggests Allstate's run now faces a challenge at $141.6, which is only $1.03 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Trend analysis indicates that Allstate's CCI indicator is above +100. Asset volatility analysis shows that Allstate's upper Bollinger Band® is at $142.48.
Notwithstanding Allstate's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Hanover Insurance Group's run now faces a challenge at $136.88, which is only $1.17 away and will be interesting to follow. Hanover Insurance Group's upper Bollinger Band® is at $139.14.
Hanover Insurance Group is likely to reverse course and start pointing downward in the short term.
Upcoming fundamentals: United States Crude Oil Inventories projected to come out at -2.38 million — worse than previous data of 1.69 million; data will be released tomorrow at 15:30 UTC.