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April 03, 2023
- Key support level at $34 currently only 13 cents away
- HSBC Holdings's upper Bollinger Band® at $39.86, suggesting a further decline is forthcoming.
As CME Group's MACD index generated a crossover buy signal, the medium-term indication has turned positive. This occurs as the MACD line crosses above the MACD signal line. On the other hand, note that Bollinger Band® analysis indicates that current price action is approaching the upper band at $193.7, thereby suggesting that CME Group is becoming overvalued. CME Group's recent run now faces a major challenge as concentrated supply is likely found at $192.75 with price action currently $1.23 away.
Overall, looking at the technical analysis landscape, it seems CME Group likely to continue pointing upward in the short term.
Trend-following investors would be interested to note that HSBC Holdings's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Asset volatility analysis shows that HSBC Holdings's lower Bollinger Band® is at $33.87, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Technical chart analysis shows HSBC is trending down and heading towards $34, which is only 13 cents away now. Hitting this support line might signal a change of direction.
For the time being, HSBC remains flat without a clear direction.
Trend analysis indicates that Moody's's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. According to asset volatility analysis, Moody's's upper Bollinger Band® is at $307.83. A study of Moody's's chart reveals various key levels to watch: Moody's's run now faces a challenge at $307.82, which is only $1.8 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 Moody's has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Mastercard's recent run now faces a major challenge as concentrated supply is likely found at $364.58 with price action currently $1.17 away. Mastercard's upper Bollinger Band® is now at $368.72. Despite this, carrying strong bullish sentiment, Mastercard surpassed $363.3 as its key Fibonacci resistance hurdle with sights already set on the next Fib level at $367.2.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Mastercard is set for a reversal in the coming days.
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