| 
May 22, 2023- TFS Financial Corp. bearish trend is facing a possible turning point at $11.25
- The lower Bollinger Band® is currently at $192.14 while the higher band is at $221.79
$11.43 marks the crossover point where TFS Financial Corporation price action falls below its 10 day Simple Moving Average. TFS Financial Corp. is hovering around the $11.35 Fibonacci support level. Despite this, TFS Financial Corp. is trending down and heading towards $11.25, which is only 11 cents away now. Hitting this support line might signal a change of direction.
Looking forward, TFS Financial Corp. is poised to extend its strong downtrend and continue declining.
Frost Bank made an initial foray below its 21 day Simple Moving Average around $101.28. Price action pushed below a known Fibonacci support level at $101.84 by around 49.5 cents with prices hammering out a $100 – $103.61 range by session close. In contrast, $99.68 is only $1.67 away for Frost Bank and might put a stop to its current downtrend.
Several technical indicators are adding weight to the bearish momentum seen Friday and forecasting Frost Bank to extend its recent losses.
Trend-following investors would be interested to note that around $199.21, RenaissanceRe can look to establish a new bullish phase beyond its 5 day Simple Moving Average. Price action overcame a known Fibonacci resistance level at $197.86 by around $1 with prices hammering out a $194.69 – $201.08 session range. A study of RenaissanceRe's chart reveals various key levels to watch: RenaissanceRe's run now faces a challenge at $201.73, which is only $2.87 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Notwithstanding RenaissanceRe's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
KB Financial's recent run now faces a major challenge as concentrated supply is likely found at $37.67 with price action currently 38 cents away. KB Financial's upper Bollinger Band® is at $37.77.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest KB Financial is set for a reversal in the coming days.
Upcoming fundamentals: United States New Home Sales (Apr) will be released tomorrow at 14:00 UTC.
