Moody's active price target: $286.94; currently at $289.24

• Ongoing downtrend set to be challenged at $286.94 as top of an established support zone
• Moody's's upper Bollinger Band® at $331.93, suggesting a further decline is forthcoming.

Trend-following investors would be interested to note that Moody's's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Asset volatility analysis shows that Moody's's lower Bollinger Band® is at $285.22. Moody's chart analysis: Moody's's downtrend might be halted by its support level at $286.94, which is only $2.3 away.

For the time being, Moody's remains flat without a clear direction.

$171.04 is only $3.21 away for American Express and might put a stop to its current downtrend. Around $174.81, American Express can look to establish a new bullish phase beyond its 21 day Simple Moving Average. American Express's lower Bollinger Band® is at $171.22, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Technical analysis indicates that American Express (currently on a downtrend) might reverse course and start pointing upward in the short term.

A persuasive break of this target could lead to higher losses.

Around $34.22, Bank of America can look to establish a new bullish phase beyond its 200 day Simple Moving Average. The lower Bollinger Band® of Bank of America is at $33.89. Bank of America is trending down and heading towards $33.66, which is only 55 cents away now. Hitting this support line might signal a change of direction.

With market volatility ebbing, the current technical outlook indicates Bank of America will break higher above its recent ranges in the immediate future.

Fundamental indicators – United States New Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 670,000, while the previous figure was 625,000.