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June 06, 2023
- Ares Management target's is $87.9; currently at $89.14
- The lower Bollinger Band® is currently at $14.59 while the higher band is at $16.42
Trend analysis indicates that Brighthouse Financial, Inc.'s CCI indicator is above +100. Yesterday's price action generated a Japanese candlestick pattern showing 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end. Asset volatility analysis shows that Brighthouse Financial's upper Bollinger Band® is at $43.24. A study of Brighthouse Financial's chart reveals various key levels to watch: Brighthouse Financial could begin to recover as it approaches significant support, now 42 cents away from $42.41. Dipping below could be an indication that further losses are ahead.
Overall, while Brighthouse Financial has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Ares Management made an initial foray below its 3 day Simple Moving Average around $88.13. Ares Management's upper Bollinger Band® is at $90.13, suggesting that a downward move may follow. Despite this, Ares Management's run now faces a challenge at $87.9, which is only $1.24 away and will be interesting to follow.
According to technical indicators, Ares Management is positioned for a downward move in the short term.
Chart analysis suggests SLM's run now faces a challenge at $16.66, which is only 17 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Trend-focused traders would be interested to note that Sallie Mae's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $16.42, thereby suggesting that Sallie Mae is becoming overvalued.
Notwithstanding Sallie Mae's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Concerning technical analysis and more specifically, trend indicators, OneMain's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. According to asset volatility analysis, OneMain's upper Bollinger Band® at $40.98, suggesting a further decline is forthcoming. Technical analysis of OneMain's past price action reveals multiple support and resistance levels: OneMain's run now faces a challenge at $40.45, which is only 47 cents away and will be interesting to follow.
For the time being, OneMain remains flat without a clear direction.
Fundamental indicators – United States ISM Non-Manufacturing PMI (May) released yesterday at 14:00 UTC with a figure of 50.3, while the previous figure was 51.9.
Upcoming fundamentals: United States Crude Oil Inventories projected to come out at 1.15 million — worse than previous data of 4.49 million; data will be released tomorrow at 14:30 UTC.
