- Gallagher bearish trend is facing a possible turning point at $209.59
- Upper Bollinger Band® currently at $36.05
Fidelity National Financial, Inc.'s upper Bollinger Band® is now at $36.05. Fidelity National Financial's recent run now faces a major challenge as concentrated supply is likely found at $35.8 with price action currently 26 cents away. In contrast, Fidelity National Financial is alternating around the $35.49 Fibonacci resistance level.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Fidelity National Financial is set for a reversal in the coming days.
Around $18.5, Ares Capital can look to establish a new bullish phase beyond its 50 day Simple Moving Average. Price action overcame a known Fibonacci resistance level at $18.44 by around 18.362 cents with prices hammering out a $18.28 – $18.63 session range. Despite this, Ares Capital's run now faces a challenge at $18.74, which is only 12 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, looking at the technical analysis landscape, it seems Ares Capital might continue pointing upwards in the short term.
PayPal is trending down and heading towards $65.61, which is only 42 cents away now. Hitting this support line might signal a change of direction.
Gallagher made an initial foray below its 50 day Simple Moving Average around $209.72. Gallagher is currently flirting with an active Fibonacci support level around $209.48. Despite this, bearish run for Gallagher is facing a possible turning point at $209.59, which is only $1.3 away. If this support line fails to hold, the next target will be at $208.29.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Gallagher to extend its recent losses.
Fundamental indicators – data from United States concerning Crude Oil Inventories was released yesterday at 14:30 UTC. Newly published figures emphasized continued decline from last month's figure of -3.83 million to -9.60 million this month.
Upcoming fundamentals: today at 12:30 UTC data for United States GDP will be released, with an expected decline to 1.4 from the preceding figure of 2.6.