- Tradeweb Markets bearish trend is facing a possible turning point at $69.09
- Upper Bollinger Band® currently at $62.11
Chart analysis indicates bearish run for Tradeweb Markets Inc. is facing a possible turning point at $69.09, which is only 85 cents away. If this support line fails to hold, the next target will be at $68.43. Trend analysis indicates that Tradeweb Markets made an initial foray below its 3 day Simple Moving Average around $70.47. Price action pushed below a known Fibonacci support level at $70 by around $1.75 with prices hammering out a $67.44 – $72.43 range by session close. According to asset volatility analysis, Tradeweb Markets's lower Bollinger Band® is at $66.44, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
For the time being, Tradeweb Markets remains flat without a clear direction.
Around $60.86, Prosperity can look to establish a new bullish phase beyond its 21 day Simple Moving Average. Despite this, Prosperity Bancshares's upper Bollinger Band® is at $62.11. Prosperity Bancshares's run now faces a challenge at $61.16, which is only 63 cents away. This should be interesting to follow.
With all probabilities considered, today's gains in Prosperity Bancshares have only added further momentum to existing technical factors favoring greater bullish sentiment in the days to come.
Despite being in the red so far in the current trading session, First American peaked above its 200 day Simple Moving Average around $54.21 — typically an early indicator of a new bullish trend beginning to emerge. First American's lower Bollinger Band® is at $54.39, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems First American is set to appreciate despite today's setback.
Although up today, early price action saw Voya dropping below its 3 day Simple Moving Average at $75.74 — an early indicator that a new downward trend could be emerging. It will be interesting to follow how Voya's run now faces a challenge at $76.51, which is only $1.05 away.
Overall, looking at the technical analysis landscape, it seems Voya Financial is likely to reverse course and start pointing down in the short term.
Fundamental indicators – following a previous reading of 0.8%, Pending Home Sales in United States released today at 14:00 UTC fell short of the 0.5% figure expected by analysts with an actual reading of -5.2%.
Upcoming fundamentals: United States Core PCE Price Index (MoM) (Mar) is scheduled for tomorrow at 12:30 UTC.