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May 03, 2023
- Goldman Sachs's downward trend will be tested at $328.95 as key support
- The upper Bollinger Band® of PayPal is at $77.42.
Goldman Sachs made an initial foray below its 50 day Simple Moving Average around $334.66. On the other hand, note that Goldman Sachs is trending down and heading towards $328.95, which is only $4.42 away now. Hitting this support line might signal a change of direction.
In the short term, Goldman Sachs is expected to maintain its recent downtrend and continue spiralling lower.
$58.29 marks the crossover point where WR Berkley price action falls below its 5 day Simple Moving Average. Despite this, WR Berkley is eyeing the $57.78 support line.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting WR Berkley to extend its recent losses.
With regards to technical trend indicators, chart analysis show that $74.48 marks the crossover point where PayPal price action falls below its 50 day Simple Moving Average. Price action pushed below a known Fibonacci support level at $73.9 by around $1.62 with prices hammering out a $71.93 – $75.06 range by session close. Asset volatility analysis shows that PayPal's lower Bollinger Band® is at $71.3. Chart analysis suggests a persuasive break of this target could lead to higher losses.
For the time being, PayPal remains flat without a clear direction.
XP made an initial foray below its 10 day Simple Moving Average around $13.75. In contrast, XP's downtrend might be halted by its support level at $12.97, which is only 34 cents away.
In the short term, XP is expected to maintain its recent downtrend and continue spiralling lower.
Fundamental indicators – United States JOLTs Job Openings (Mar) came out at 9.59 million, while a consensus of analysts was expecting 9.78 million.
Upcoming fundamentals: United States Crude Oil Inventories is projected to outperform its last figure with -1.1 million. It previously stood at -5 million; data will be released today at 14:30 UTC.
