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February 22, 2023
- JP Morgan Chase is trending down and might signal a change of direction
- Visa Inc.'s upper Bollinger Band® at $234.3, suggesting a further decline is forthcoming.
Trend-focused traders would be interested to note that $140.37 marks the crossover point where JP Morgan Chase price action falls below its 21 day Simple Moving Average. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $137.81, a low enough level to, generally, suggest that JP Morgan Chase is trading below its fair value. JP Morgan Chase's notable support and resistance levels: JP Morgan Chase's bearish trend is facing a possible turning point at $138.47, which is only $1.16 away. Will be interesting to follow.
For the time being, JP Morgan Chase remains flat without a clear direction.
T. Rowe Price is trending down and heading towards $111.62, which is only $1.61 away now. Hitting this support line might signal a change of direction. T. Rowe Price's lower Bollinger Band® is now at $110.93. Despite this, T. Rowe Price is hovering around the $113.46 Fibonacci support level.
Technical analysis indicates that T. Rowe Price (currently on a downtrend) might reverse course and start pointing upward in the short term.
Credit Suisse's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. On the other hand, note that $2.89 is only 3 cents away for Credit Suisse and might put a stop to its current downtrend.
Looking forward, Credit Suisse is poised to extend its strong downtrend and continue declining.
Technical analysis trend indicators suggest that Visa Inc.'s CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Analysis based on the asset volatility indicates that Visa Inc.'s lower Bollinger Band® is at $221.18, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. A study of Visa Inc.'s historical price actions shows Visa Inc.'s downtrend might be halted by its support level at $219.59, which is only $1.03 away.
For the time being, Visa Inc. remains flat without a clear direction.
Fundamental indicators – United States Existing Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 4 million, while the previous figure was 4 million.
Upcoming fundamentals: United States Crude Oil Inventories projected to decline to 1.17 million while previous data was 16.28 million; data will be released tomorrow at 16:00 UTC.
