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April 25, 2023
- Next support is currently 78 cents away at $344.65
- S&P Global looks below $346.43 (200 day Simple Moving Average) as signpost for new negative trend
While on a 3 day downtrend, dropping a total of 2.12%, More of the same today: drifting lower, the financial analytics company is nearing the end of the session at $345.43 after ranging between $344.08 and $350.82 today.
The stock has been trending positively for about a month. 6 months ago, the financial analytics company fell to a low of $286.62 but has since recovered 21.3%.
S&P Global made an initial break below its 200 day Simple Moving Average at $346.43, a possible indication of a forthcoming negative trend. Despite this, S&P Global could begin to recover as it approaches significant support, now 78 cents away from $344.65. Dipping below could be an indication that further losses are ahead.
In the short term, S&P Global is expected to maintain its recent downtrend and continue spiralling lower.
Fundamental indicators – United States New Home Sales (Mar) released today at 14:00 UTC with a figure of 683,000, while the previous figure was 623,000.
In the meantime, negative performances are also seen in other financials stocks as HSBC Holdings is down 2.34% from the beginning of the session and now trades around $35. Royal Bank Of Canada is trading around $96.79 (down 1.91%). After closing the previous session (yesterday) at $160.59, American Express lost $4.24 and is trading around $156.35.
Upcoming fundamentals: United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of -0.1%; data will be released tomorrow at 12:30 UTC.
