- Buoyed by a strong session amid an uptrend, JP Morgan Chase is $1.81 away from testing key resistance at $142.9
- The lower Bollinger Band® is currently at $33.04 while the higher band is at $36.68
Trend-focused traders would be interested to note that around $139.59, JP Morgan Chase can look to establish a new bullish phase beyond its 5 day Simple Moving Average. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $142.93, thereby suggesting that JP Morgan Chase is becoming overvalued. Chart analysis indicates JP Morgan Chase's run now faces a challenge at $142.9, which is only $1.81 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
For the time being, JP Morgan Chase remains flat without a clear direction.
GoHealth made an initial foray below its 10 day Simple Moving Average around $14.79. Price action remains constrained around the key Fibonacci level of $14.92 currently serving as support. If price action breaks below, the next Fib hurdle is $14.28. In contrast, GoHealth's downtrend might be halted by its support level at $14.42, which is only 60 cents away.
Looking forward, GoHealth is poised to extend its strong downtrend and continue declining.
Around $116.5, Discover can look to establish a new bullish phase beyond its 5 day Simple Moving Average. Price action overcame a known Fibonacci resistance level at $117.57 by around $1.43 with prices hammering out a $115.71 – $119.91 session range. On the other hand, note that Discover's upper Bollinger Band® is at $122.13. Discover Financial Services's recent run now faces a major challenge as concentrated supply is likely found at $120.7 with price action currently $1.7 away.
According to technical analysis, it looks as if Discover Financial Services likely to continue pointing upward in the short term.
A study of Bank of America's chart reveals various key levels to watch: Bank of America's recent run now faces a major challenge as concentrated supply is likely found at $36.83 with price action currently 40 cents away. Trend analysis indicates that Bank of America's CCI indicator is above +100. Bank of America is alternating around the $36.4 Fibonacci resistance level. Analysis based on the asset volatility indicates that Bank of America's upper Bollinger Band® is now at $36.68.
Overall, while Bank of America has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Upcoming fundamentals: United States Fed Chair Powell speech scheduled to come out tomorrow at 17:00 UTC.