- Bank of America's recent run now faces a challenge at $34.04
- Upper Bollinger band currently at $116.07
Around $33.4, Bank of America can look to establish a new bullish phase beyond its 50 day Simple Moving Average. Despite this, Bank of America's recent run now faces a major challenge as concentrated supply is likely found at $34.04 with price action currently 42 cents away. Bank of America's upper Bollinger band is now at $33.69.
Overall, looking at the technical analysis landscape, it seems Bank of America likely to continue pointing upward in the short term.
Chart analysis indicates JP Morgan Chase's run now faces a challenge at $117.14, which is only $1.28 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. With regards to technical trend indicators, chart analysis show that JP Morgan Chase's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. Asset volatility analysis shows that JP Morgan Chase's upper Bollinger band is at $116.07.
For the time being, JP Morgan Chase remains flat without a clear direction.
A study of Oracle's chart reveals various key levels to watch: Oracle's run now faces a challenge at $67.77, which is only 75 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Trend-following investors would be interested to note that Oracle's CCI indicator is above +100. Oracle is alternating around the $67.19 Fibonacci resistance level. Analysis based on the asset volatility indicates that Bollinger band analysis indicates that current price action is approaching the upper band at $67.91, thereby suggesting that Oracle is becoming overvalued.
Overall, while Oracle has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Despite posting gains on yesterday, Cisco slid below its 21 day Simple Moving Average at $41.05 during the last session — an early indicator that a negative trend could be emerging. Bollinger band analysis indicates that current price action is approaching the upper band at $42.25, thereby suggesting that Cisco is becoming overvalued. Cisco's run now faces a challenge at $41.56, which is only 26 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 Cisco is set for a reversal in the coming days.
$77.05 marks the crossover point where General Mills price action falls below its 50 day Simple Moving Average. General Mills plunged below the $77.56 Fibonacci support level; next know Fib target at $76.81. On the other hand, note that a persuasive break of this target could lead to higher losses.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting General Mills to extend its recent losses.
Around $82.2, Garmin can look to establish a new bullish phase beyond its 21 day Simple Moving Average. In contrast, Garmin's run now faces a challenge at $82.55, which is only 77 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 Garmin might continue pointing upwards in the short term.
Fundamental indicators – United States NY Empire State Manufacturing Index (Oct) released yesterday at 12:30 UTC with a figure of -9.1, while the previous figure was -1.5.
Upcoming fundamentals: United States Crude Oil Inventories projected to decline to 1.55 million while previous data was 9.88 million; data will be released tomorrow at 14:30 UTC.