- Price action is gradually approaching a key resistance hurdle at $365.35
- Upper Bollinger Band® currently at $361.4
S&P Global has posted further gains as part of a 3 day trend that has already seen the stock gain $15.51. S&P Global lived up to expectations yesterday by maintaining its set course — S&P Global rallied 1.97% and ended the session at $362.58.
The stock has been trending positively for about a month. S&P Global hit a significant low of $286.62 around 6 months ago, but has since recovered 24.06%.
With regards to technical trend indicators, chart analysis show that investors are seeking long positions as S&P Global price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, S&P Global's upper Bollinger Band® is at $361.4, this is a slight indication of a slowdown. S&P Global's notable support and resistance levels: S&P Global is $2.77 away from testing key resistance at $365.35. Peaking above this level could inspire market bulls and open the path to further gains.
Notwithstanding S&P Global's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Fundamental indicators – United States Core PCE Price Index (MoM) (Mar) released yesterday at 12:30 UTC with a figure of 0.3, while the previous figure was 0.3.
A look at other financials stocks also showed bullish price action as The Blackstone Group Inc. was up 3.49%. Visa Inc. traded at $232.73 after closing yesterday's trading day at $229 (up 1.62%). Mastercard gained 1.7%, as it traded at $380.03.