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March 11, 2023
- Banco Bilbao Vizcaya Argentaria bearish trend is facing a possible turning point at $7.22
- HSBC Holdings's upper Bollinger Band® at $39.14, suggesting a further decline is forthcoming.
Bollinger Bands® shows an indication of recovery: the lower band is at $7.16, a low enough level to, generally, suggest that Banco Bilbao Vizcaya Argentaria, S.A. is trading below its fair value. A persuasive break of this target could lead to higher losses. On the other hand, note that Banco Bilbao Vizcaya Argentaria is hovering around the $7.4 Fibonacci support level.
Overall, looking at the technical analysis landscape, it seems Banco Bilbao Vizcaya Argentaria —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
Support/Resistance levels obtained from chart analysis indicate that a convincing break of this target could pave the way for deeper losses. Trend-focused traders would be interested to note that Regions Financial Corp's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Momentum evaluation shows that the Relative Strength Index indicates Regions Financial Corp is in oversold condition. According to asset volatility analysis, Regions Financial Corp's lower Bollinger Band® is at $20.56, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
For the time being, Regions Financial Corp remains flat without a clear direction.
$60.61 marks the crossover point where Stifel price action falls below its 200 day Simple Moving Average. In contrast, a convincing break of this target could pave the way for deeper losses. Stifel's lower Bollinger Band® is at $60.48, 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, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Stifel.
Technical chart analysis shows a convincing break of this target could pave the way for deeper losses. Technical analysis trend indicators suggest that HSBC's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $35.54, a low enough level to, generally, suggest that HSBC Holdings is trading below its fair value.
For the time being, HSBC Holdings remains flat without a clear direction.
Fundamental indicators – highly important Non Farm Payrolls data from United States beat analyst expectations of 205,000 with a reading of 311,000.
