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June 11, 2023
- JP Morgan Chase's recent run now faces a challenge at $141.8
- The lower Bollinger Band® is currently at $351.14 while the higher band is at $386.71
Technical analysis of JP Morgan Chase's past price action reveals multiple support and resistance levels: JP Morgan Chase's run now faces a challenge at $141.8, which is only 79 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Trend-following investors would be interested to note that JP Morgan Chase's CCI indicator has broken above +100, indicating that prices are unusually high compared to the rolling average. JP Morgan Chase failed to break through the $141.4 Fibonacci resistance level. Analysis based on the asset volatility indicates that JP Morgan Chase's upper Bollinger Band® is now at $142.31.
Notwithstanding JP Morgan Chase's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Trend analysis indicates that around $107.5, Globe Life can look to establish a new bullish phase beyond its 50 day Simple Moving Average. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $109.82, thereby suggesting that Globe Life is becoming overvalued. Analysis of Globe Life's recent price action suggests Globe Life's recent run now faces a major challenge as concentrated supply is likely found at $108.32 with price action currently 39 cents away.
Overall, while Globe Life has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Reinsurance Group of America made an initial foray below its 5 day Simple Moving Average around $144.48. Reinsurance Group of America is currently flirting with an active Fibonacci support level around $144.49. In contrast, $143.42 is only 87 cents away for Reinsurance Group of America and might put a stop to its current downtrend.
Despite the market lacking direction, technical chart analysis strongly suggests Reinsurance Group of America is positioned for a downward move in the near term.
Technical chart analysis shows S&P Global's run now faces a challenge at $385.47, which is only $1.47 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow. Trend-focused traders would be interested to note that S&P Global's CCI indicator is above +100. According to asset volatility analysis, S&P Global's upper Bollinger Band® is at $386.71.
Notwithstanding S&P Global's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
