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February 26, 2023
- Moody's bearish trend is facing a possible turning point at $286.94
- Moody's's upper Bollinger Band® is at $331.93.
With regards to technical trend indicators, chart analysis show that Moody's's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $285.22, a low enough level to, generally, suggest that Moody's is trading below its fair value. Technical analysis of Moody's's past price action reveals multiple support and resistance levels: bearish run for Moody's is facing a possible turning point at $286.94, which is only $2.3 away. If this support line fails to hold, the next target will be at $284.64.
For the time being, Moody's remains flat without a clear direction.
A study of BlackRock's chart reveals various key levels to watch: a convincing break of this target could pave the way for deeper losses. Concerning technical analysis and more specifically, trend indicators, BlackRock's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. According to asset volatility analysis, BlackRock's lower Bollinger Band® is at $672.48, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
For the time being, BlackRock remains flat without a clear direction.
Around $364.85, Goldman Sachs can look to establish a new bullish phase beyond its 5 day Simple Moving Average. The lower Bollinger Band® of Goldman Sachs is at $358.15. A persuasive break of this target could lead to higher losses.
Despite muted price action in Goldman Sachs, chart analysis indicates it is positioned for a bullish run in the short term.
Concerning technical analysis and more specifically, trend indicators, around $140.89, JP Morgan Chase can look to establish a new bullish phase beyond its 21 day Simple Moving Average. Asset volatility analysis shows that JP Morgan Chase's upper Bollinger Band® is at $144.2. Chart analysis suggests JP Morgan Chase's recent run now faces a major challenge as concentrated supply is likely found at $141.88 with price action currently 95 cents away.
Overall, while JP Morgan Chase has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Upcoming fundamentals: United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.2%; data will be released tomorrow at 13:30 UTC.
