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May 02, 2023
- Banco Bilbao Vizcaya Argentaria bearish trend is facing a possible turning point at $7.24
- Bollinger analysis indicates upper Band® is at $363.58
Trend-following investors would be interested to note that despite being in the red so far in the current trading session, Banco Bilbao Vizcaya Argentaria, S.A. peaked above its 10 day Simple Moving Average around $7.42 — typically an early indicator of a new bullish trend beginning to emerge. Technical chart analysis shows Banco Bilbao Vizcaya Argentaria's downtrend might be halted by its support level at $7.24, which is only 5 cents away.
For the time being, Banco Bilbao Vizcaya Argentaria remains flat without a clear direction.
Northern Trust made an initial foray below its 3 day Simple Moving Average around $77.22. In contrast, Northern Trust's lower Bollinger Band® is now at $74.86. Northern Trust is eyeing the $76.5 support line.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Northern Trust.
Trend and momentum analysis indicates that S&P Global's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. According to asset volatility analysis, S&P Global's upper Bollinger Band® is at $363.58, suggesting that a downward move may follow. Chart analysis indicates S&P Global is eyeing the $360.76 support line.
Overall, while S&P Global has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
$30.11 marks the crossover point where Synovus Financial Corp. price action falls below its 21 day Simple Moving Average. On the other hand, note that Synovus Financial Corp. could begin to recover as it approaches significant support, now 40 cents away from $29.59. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Synovus Financial Corp. to extend its recent losses.
Fundamental indicators – United States ISM Manufacturing PMI (Apr) released yesterday at 14:00 UTC with a figure of 47.1, while the previous figure was 46.3.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with -1,000,000, having previously been at -5 million. The figure will be published tomorrow at 14:30 UTC.
