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March 13, 2023
- S&P Global's downtrend is set to be challenged by looming key support at $321.71
- HDFC Bank's upper Bollinger Band® is at $70.69 which indicates a further downward move may follow.
Chart analysis indicates bearish run for S&P Global is facing a possible turning point at $321.71, which is only $3.08 away. If this support line fails to hold, the next target will be at $316.88. Technical analysis trend indicators suggest that S&P Global's CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Asset volatility analysis shows that S&P Global's lower Bollinger Band® is now at $321.52.
For the time being, S&P Global remains flat without a clear direction.
Trend-focused traders would be interested to note that Kemper'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 Kemper's lower Bollinger Band® is at $57.06, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Technical analysis shows that Kemper's bearish trend is facing a possible turning point at $54.32, which is only $1.22 away. Will be interesting to follow.
For the time being, Kemper remains flat without a clear direction.
Support/Resistance levels obtained from chart analysis indicate that HSBC Holdings's downtrend might be halted by its support level at $34, which is only 60 cents away. Trend and momentum analysis indicates that HSBC's CCI indicator has fallen below -100, meaning prices are unusually low compared to their long-term average. According to asset volatility analysis, the lower Bollinger Band® of HSBC is at $35.33.
For the time being, HSBC remains flat without a clear direction.
HDFC Bank made an initial foray below its 200 day Simple Moving Average around $63.26. On the other hand, note that HDFC Bank's run now faces a challenge at $62.9, which is only 77 cents away and will be interesting to follow. HDFC Bank's lower Bollinger Band® is at $64.48.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for HDFC Bank.
Fundamental indicators – United States Participation Rate (Feb) released today at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
Upcoming fundamentals: United States Consumer Price Index is expected tomorrow at 12:30 UTC.
