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April 16, 2023- Buoyed by a strong session amid an uptrend, Banco Santander, S.A. is 2 cents away from testing key resistance at $3.94
- The lower Bollinger Band® is currently at $42.59 while the higher band is at $49.39
Trend analysis indicates that Banco Santander, S.A.'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 Banco Santander, S.A.'s upper Bollinger Band® is now at $3.97. Chart analysis suggests Banco Santander, S.A.'s run now faces a challenge at $3.94, which is only 2 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Overall, while Banco Santander, S.A. has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
American Express's recent run now faces a major challenge as concentrated supply is likely found at $164.84 with price action currently $1.62 away. Despite posting gains on Friday, American Express slid below its 10 day Simple Moving Average at $161.82 during the last session — an early indicator that a negative trend could be emerging. American Express's upper Bollinger Band® is at $165.68.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest American Express is set for a reversal in the coming days.
Despite posting gains on Friday, Janus Henderson slid below its 10 day Simple Moving Average at $26.2 during the last session — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $26.92, thereby suggesting that Janus Henderson is becoming overvalued. Janus Henderson's run now faces a challenge at $26.77, which is only 27 cents away and will be interesting to follow.
Examining the technical analysis landscape, Janus Henderson is likely to reverse course and start pointing downward in the short term.
Around $48.42, Citigroup can look to establish a new bullish phase beyond its 50 day Simple Moving Average. Price action overcame a known Fibonacci resistance level at $48.55 by around $1 with prices hammering out a $48.02 – $49.89 session range. In contrast, Citigroup's run now faces a challenge at $50.29, which is only 73 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Citigroup's upper Bollinger Band® is at $49.39.
Overall, looking at the technical analysis landscape, it seems Citigroup likely to continue pointing upward in the short term.
