- Kemper bearish trend is facing a possible turning point at $54.2
- The lower Bollinger Band® is currently at $11.12 while the higher band is at $15.48
Kemper Corporation made an initial foray below its 21 day Simple Moving Average around $54.86. Price action pushed below a known Fibonacci support level at $55.54 by around 63 cents with prices hammering out a $54.51 – $56.03 range by session close. Despite this, Kemper is eyeing the $54.2 support line.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Kemper to extend its recent losses.
$37.15 marks the crossover point where KB Financial price action falls below its 5 day Simple Moving Average. KB Financial's upper Bollinger Band® is at $37.77 which indicates a further downward move may follow. On the other hand, note that KB Financial could begin to recover as it approaches significant support, now 30 cents away from $36.94. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for KB Financial.
Despite being in the red so far in the current trading session, AIG peaked above its 10 day Simple Moving Average around $51.77 — typically an early indicator of a new bullish trend beginning to emerge. A persuasive break of this target could lead to higher losses.
Overall, looking at the technical analysis landscape, it seems AIG —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
SLM's recent run now faces a major challenge as concentrated supply is likely found at $14.79 with price action currently 12 cents away. Despite posting gains on yesterday, Sallie Mae slid below its 5 day Simple Moving Average at $14.52 during the last session — an early indicator that a negative trend could be emerging.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Sallie Mae is set for a reversal in the coming days.
Fundamental indicators – United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5.