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June 06, 2023- The CCI indicator stands above +100
- S&P Global's upper Bollinger Band® is at $377.59 which indicates a further downward move may follow.
S&P Global is on an 8 day uptrend — Now turning against its recent performance, S&P Global is down to $376.33, after ending yesterday at $378.1. Overall, a 0.47% loss or $1.77 today.
The stock has been trending positively for about 2 months. The ratings, benchmarks, analytics and data provider is up 31.92% from the significant low of $286.62 it hit 7 months ago.
Trend-following investors would be interested to note that investors are seeking long positions as S&P Global price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that S&P Global's upper Bollinger Band® is at $377.59 which indicates a further downward move may follow.
Overall, while S&P Global has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Fundamental indicators – United States ISM Non-Manufacturing PMI (May) came out at 50.3, while a consensus of analysts was expecting 51.8.
Positive performances can be seen by looking at other financials stocks as Mastercard is up 1.15%. Visa Inc. is up 0.39%. American Express is trading at $168.54 after ending yesterday's session at $167.43 (up 0.66%).
Upcoming fundamentals: United States Crude Oil Inventories projected to come out at 1.15 million — worse than previous data of 4.49 million; data will be released tomorrow at 14:30 UTC.
