- Bullish session prepares challenge of $15.76 level, currently 27 cents above current price of $15.49
- Market bulls strengthened by lower Bollinger band currently at $182.06
Catalent Inc is currently flirting with an active Fibonacci support level around $72.74. Technical analysis of Catalent's past price action reveals multiple support and resistance levels: a persuasive break of this target could lead to higher losses.
Around $197.96, Tractor Supply can look to establish a new bullish phase beyond its 5 day Simple Moving Average. Tractor Supply is hovering above a known Fibonacci resistance level of $200.48. In contrast, Bollinger band analysis indicates that current price action is approaching the upper band at $203.04, thereby suggesting that Tractor Supply is becoming overvalued. Tractor Supply's recent run now faces a major challenge as concentrated supply is likely found at $203.57 with price action currently $2.81 away.
Overall, looking at the technical analysis landscape, it seems Tractor Supply likely to continue pointing upward in the short term.
Around $15.58, Sallie Mae can look to establish a new bullish phase beyond its 5 day Simple Moving Average. Sallie Mae has formed a "Hammer” pattern. On the other hand, note that it will be interesting to follow how Sallie Mae's run now faces a challenge at $15.76, which is only 27 cents away.
Examining the technical analysis landscape, SLM might continue its downtrend in the short term.
Trend-following investors would be interested to note that IBM's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. According to asset volatility analysis, the lower Bollinger band of IBM is at $116.33. Visual analysis of IBM's chart shows that IBM is trending down and heading towards $116.75, which is only $1.05 away now. Hitting this support line might signal a change of direction.
For the time being, IBM remains flat without a clear direction.
Ventas's run now faces a challenge at $37.49, which is only 50 cents away and will be interesting to follow. Ventas's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Despite this, 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end.
Overall, looking at the technical analysis landscape, it seems Ventas is likely to reverse course and start pointing down in the short term.
Around $69.68, Prosperity can look to establish a new bullish phase beyond its 21 day Simple Moving Average. Prosperity Bancshares is alternating around the $69.42 Fibonacci resistance level. Despite this, Prosperity's run now faces a challenge at $71.17, which is only $1.3 away and will be interesting to follow.
Overall, looking at the technical analysis landscape, it seems Prosperity Bancshares might continue pointing upwards in the short term.
Fundamental indicators – United States Producer Price Index beat analyst expectations of 0.2% and the previous reading of -0.2% with new data of 0.4%.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with 1.75 million, having previously been at -1.36 million. The figure will be published tomorrow at 15:00 UTC.