| 
May 31, 2023
- Strong bullish sentiment set to meet bearish fightback around key resistance at $87.19, currently 79 cents away
- Upper Bollinger Band® currently at $86.5
Trend analysis indicates that The Blackstone Group Inc.'s CCI indicator is above +100. Blackstone failed to break through the $86.88 Fibonacci resistance level. According to asset volatility analysis, Blackstone's upper Bollinger Band® is now at $86.5. Technical chart analysis shows Blackstone's recent run now faces a major challenge as concentrated supply is likely found at $87.19 with price action currently 79 cents away.
For the time being, Blackstone remains flat without a clear direction.
Around $220, Erie Indemnity can look to establish a new bullish phase beyond its 5 day Simple Moving Average. In contrast, Erie Indemnity's run now faces a challenge at $222.4, which is only $1.74 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Overall, looking at the technical analysis landscape, it seems Erie Indemnity might continue pointing upwards in the short term.
Despite posting gains on yesterday, Upstart Holdings slid below its 5 day Simple Moving Average at $25.78 during the last session — an early indicator that a negative trend could be emerging. Upstart Holdings's upper Bollinger Band® is at $31.9. Upstart Holdings's run now faces a challenge at $30.61, which is only $1.52 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Despite this, price action overcame a known Fibonacci resistance level at $27.65 by around $1.44 with prices hammering out a $25.1 – $29.41 session range.
Technical analysis of Upstart Holdings price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
Technical analysis of Principal's past price action reveals multiple support and resistance levels: Principal Financial's run now faces a challenge at $68.87, which is only 44 cents away and will be interesting to follow. Technical analysis trend indicators suggest that despite posting gains on yesterday, Principal Financial slid below its 3 day Simple Moving Average at $68.23 during the last session — an early indicator that a negative trend could be emerging. Asset volatility analysis shows that Principal Financial's lower Bollinger Band® is at $66.95, indicating that the market is oversold and fertile for new buyers.
For the time being, Principal Financial remains flat without a clear direction.
Fundamental indicators – United States Consumer Confidence released yesterday at 14:00 UTC is better than expected at 102.3 but down from preceding data of 103.7 according to new data.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with -1.10 million. It previously stood at -12.46 million; data will be released tomorrow at 15:00 UTC.
