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June 24, 2023- Lloyds Banking Group bearish trend is facing a possible turning point at $2.09
- The upper Bollinger Band® of Lloyds Banking Group is at $2.32.
Trend analysis indicates that Lloyds Banking Group plc's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. According to asset volatility analysis, Lloyds Banking Group's lower Bollinger Band® is at $2.12. Support/Resistance levels obtained from chart analysis indicate that $2.09 is only 1 cents away for Lloyds Banking Group and might put a stop to its current downtrend.
For the time being, Lloyds Banking Group remains flat without a clear direction.
Chart analysis suggests PNC is trending down and heading towards $121.07, which is only $1.96 away now. Hitting this support line might signal a change of direction.
With regards to technical trend indicators, chart analysis show that T. Rowe Price'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 the lower Bollinger Band® of T. Rowe Price is at $104.89. Chart analysis suggests T. Rowe Price's downtrend might be halted by its support level at $104.53, which is only $1.8 away.
For the time being, T. Rowe Price remains flat without a clear direction.
A persuasive break of this target could lead to higher losses. Around $40.41, Wells Fargo can look to establish a new bullish phase beyond its 50 day Simple Moving Average. Wells Fargo's lower Bollinger Band® is at $39.83, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Technical analysis indicates that Wells Fargo (currently on a downtrend) might reverse course and start pointing upward in the short term.
Fundamental indicators – United States Services PMI released yesterday at 13:45 UTC with a figure of 54.1, while the previous figure was 54.9.
