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June 15, 2023
- Buoyed by a strong session amid an uptrend, Banco Santander, S.A. is 2 cents away from testing key resistance at $3.52
- The lower Bollinger Band® is currently at $16.32 while the higher band is at $22.28
Despite posting gains on today, Banco Santander, S.A. slid below its 5 day Simple Moving Average at $3.45 during the last session — an early indicator that a negative trend could be emerging. Banco Santander, S.A.'s upper Bollinger Band® is at $3.56. Banco Santander, S.A.'s run now faces a challenge at $3.52, 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.
Technical analysis suggests there could be an imminent reversal for Banco Santander, S.A..
Shinhan Financial chart analysis: Shinhan Financial's recent run now faces a major challenge as concentrated supply is likely found at $27.67 with price action currently 14 cents away. With regards to technical trend indicators, chart analysis show that around $27.31, Shinhan Financial can look to establish a new bullish phase beyond its 10 day Simple Moving Average. Analysis based on the asset volatility indicates that Shinhan Financial's upper Bollinger Band® is now at $28.
Overall, while Shinhan Financial has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Trend-focused traders would be interested to note that XP's CCI indicator is above +100. According to momentum evaluation, the Relative Strength Index indicates XP is in an overbought condition. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $22.28, thereby suggesting that XP is becoming overvalued. Chart analysis suggests XP's recent run now faces a major challenge as concentrated supply is likely found at $22.11 with price action currently 25 cents away.
For the time being, XP remains flat without a clear direction.
Technical analysis trend indicators suggest that around $42.21, Wells Fargo can look to establish a new bullish phase beyond its 5 day Simple Moving Average. Wells Fargo is hovering above a known Fibonacci resistance level of $42.24. Asset volatility analysis shows that Wells Fargo's upper Bollinger Band® is now at $43. Technical chart analysis shows Wells Fargo's recent run now faces a major challenge as concentrated supply is likely found at $42.65 with price action currently 29 cents away.
For the time being, Wells Fargo remains flat without a clear direction.
Fundamental indicators – data from United States concerning Retail Sales was released today at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 0.4% to 0.3% this month.
