S&P Global zeroing in on key resistance at $394.93 and $401.08 thereafter

Price action oscillating around key resistance at $394.93
Upper Bollinger Band® currently at $393.62

S&P Global has posted further gains as part of a 14 day trend that has already seen the stock gain $34.36. On-trend S&P Global closed the session today with more of the same: after closing today at $393.09, the ratings, benchmarks, analytics and data provider peaked at $395.4 before giving up early gains and closing at $393.09.

The stock has been trending positively for about 2 months. The ratings, benchmarks, analytics and data provider now trading 20.25% above its 3-month low of $286.62.

With regards to technical trend indicators, chart analysis show that investors are seeking long positions as S&P Global price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Momentum evaluation shows that the Relative Strength Index indicates S&P Global is currently 'overbought' which suggests new gains will be harder to obtain. According to asset volatility analysis, S&P Global's upper Bollinger Band® is at $393.62, this is a slight indication of a slowdown. Chart analysis suggests S&P Global price action is currently oscillating around the $394.93 resistance level with prices moving above and below several times during the session.

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 Interest Rate came out at 5.25, while a consensus of analysts was expecting 5.25.

This rally in S&P Global's share price coincided with other financials stocks as Mastercard gained 0.91%, as it traded at $374.76.

While S&P Global was bullish today, the following financials stocks underperformed: Wells Fargo & Company closed at $42.08 (down 1.34%). Goldman Sachs went down to $338.42, losing 1.19% after it closed at $342.5 today.

Upcoming fundamentals: tomorrow at 12:30 UTC data for United States Retail Sales will be released, with an expected decline to -0.1% from the preceding figure of 0.4%.