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March 01, 2023
- Solid trading session sets up assault on pivotal resistance at $81.2; currently 57 cents away
- Upper Bollinger Band® currently at $7.7
As Banco Bilbao Vizcaya Argentaria, S.A.'s MACD index generated a crossover buy signal, the medium-term indication has turned positive. This occurs as the MACD line crosses above the MACD signal line. In contrast, Banco Bilbao Vizcaya Argentaria's recent run now faces a major challenge as concentrated supply is likely found at $7.95 with price action currently 19 cents away. Banco Bilbao Vizcaya Argentaria's upper Bollinger Band® is now at $7.7.
According to technical analysis, it looks as if Banco Bilbao Vizcaya Argentaria likely to continue pointing upward in the short term.
Trend-following investors would be interested to note that Ares Capital made an initial foray below its 5 day Simple Moving Average around $19.38. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $19.21, a low enough level to, generally, suggest that Ares Capital is trading below its fair value. Chart analysis suggests Ares Capital's downtrend might be halted by its support level at $19.29, which is only 7 cents away.
For the time being, Ares Capital remains flat without a clear direction.
With regards to technical trend indicators, chart analysis show that around $50.34, Citigroup can look to establish a new bullish phase beyond its 3 day Simple Moving Average. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $52.3, thereby suggesting that Citigroup is becoming overvalued. Support/Resistance levels obtained from chart analysis indicate that Citigroup's recent run now faces a major challenge as concentrated supply is likely found at $50.96 with price action currently 27 cents away.
Notwithstanding Citigroup's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
With regards to technical trend indicators, chart analysis show that around $50.34, Citigroup can look to establish a new bullish phase beyond its 3 day Simple Moving Average. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $52.3, thereby suggesting that Citigroup is becoming overvalued. Support/Resistance levels obtained from chart analysis indicate that Citigroup's recent run now faces a major challenge as concentrated supply is likely found at $50.96 with price action currently 27 cents away.
Notwithstanding Citigroup's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Fundamental indicators – following a previous reading of 106, Consumer Confidence in United States released yesterday at 15:00 UTC fell short of the 108.5 figure expected by analysts with an actual reading of 102.9.
Upcoming fundamentals: as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 457,000, following on from the preceding figure of 7.65 million. New data is set to be published today at 15:30 UTC.
