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April 14, 2023
- Cincinnati Financial Corp is trending down and might signal a change of direction
- The lower Bollinger Band® is currently at $32.73 while the higher band is at $35.93
Around $109.77, Cincinnati Financial Corp can look to establish a new bullish phase beyond its 21 day Simple Moving Average. $108.16 is only $2.39 away for Cincinnati Financial Corp and might put a stop to its current downtrend.
Despite muted price action in Cincinnati Financial Corp, chart analysis indicates it is positioned for a bullish run in the short term.
Trend and momentum analysis indicates that HSBC's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. According to asset volatility analysis, HSBC Holdings's upper Bollinger Band® is now at $35.93. A study of HSBC's chart reveals various key levels to watch: HSBC Holdings's run now faces a challenge at $35.8, which is only 13 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 HSBC has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
With regards to technical trend indicators, chart analysis show that around $70.23, The Hartford can look to establish a new bullish phase beyond its 200 day Simple Moving Average. Analysis based on the asset volatility indicates that The Hartford's upper Bollinger Band® at $72.24, suggesting a further decline is forthcoming. Analysis of The Hartford's recent price action suggests The Hartford's run now faces a challenge at $69.26, which is only $1.57 away and will be interesting to follow.
For the time being, The Hartford remains flat without a clear direction.
Lloyds Banking Group's run now faces a challenge at $2.42, which is only 5 cents away and will be interesting to follow. Despite posting gains on yesterday, Lloyds Banking Group slid below its 10 day Simple Moving Average at $2.37 during the last session — an early indicator that a negative trend could be emerging.
Examining the technical analysis landscape, Lloyds Banking Group is likely to reverse course and start pointing downward in the short term.
Fundamental indicators – United States Producer Price Index published yesterday at 12:30 UTC came out at -0.5%, falling short of the 0.1% projections and continuing its decline from the previous 0% figure.
Upcoming fundamentals: United States Core Retail Sales projected to come out at -0.3% — worse than previous data of -0.1%; data will be released today at 12:30 UTC.
