- Huntington Bancshares Incorporated bearish trend is facing a possible turning point at $11.21
- Upper Bollinger Band® currently at $2.48
Huntington Bancshares Incorporated made an initial foray below its 3 day Simple Moving Average around $11.3. Huntington Bancshares Incorporated's upper Bollinger Band® is at $11.62 which indicates a further downward move may follow. Despite this, Huntington Bancshares Incorporated could begin to recover as it approaches significant support, now 11 cents away from $11.21. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Huntington Bancshares Incorporated to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the commercial bank is expected to attract significant bearish sentiment in the coming days.
Chart analysis indicates Lloyds Banking Group's recent run now faces a major challenge as concentrated supply is likely found at $2.47 with price action currently 3 cents away. Trend and momentum analysis indicates that Lloyds Banking Group's CCI indicator is above +100. Asset volatility analysis shows that Lloyds Banking Group's upper Bollinger Band® is at $2.48.
Notwithstanding Lloyds Banking Group's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
$300.71 marks the crossover point where Moody's price action falls below its 50 day Simple Moving Average. Moody's is hovering around the $301.39 Fibonacci support level. Moody's's upper Bollinger Band® is at $306.53 which indicates a further downward move may follow. In contrast, Moody's's downtrend might be halted by its support level at $296.03, which is only $2.15 away.
Looking forward, Moody's is poised to extend its strong downtrend and continue declining.
Technical analysis shows that The Hartford's run now faces a challenge at $71.3, which is only 46 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 The Hartford's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. Analysis based on the asset volatility indicates that The Hartford's upper Bollinger Band® is now at $72.
For the time being, The Hartford remains flat without a clear direction.
Fundamental indicators – United States Crude Oil Inventories beat analyst expectations of -583,000 and the previous reading of -3.74 million with new data of 597,000.
Upcoming fundamentals: United States Producer Price Index is projected to outperform its last figure with 0.1%. It previously stood at -0.1%; data will be released tomorrow at 12:30 UTC.