Bank of America's stock (BAC) rose in the intraday levels after reporting a profit of 85 cents per share in the last quarter, beating estimates of 77 cents, with earnings beating expectations as well, with the stock spiking 2.20% in the last session, or 76 points, settling at 35.23, with trading volumes surpassing 89.6 million shares, above 10-day averages of 42.3 million shares.
Technically, the upward correctional trend dominates movements in the short term, while passing the resistance of the 50-day SMA, shaking off negative pressure, with positive signals from the RSI despite reaching overbought levels.
Therefore we expect more gains for the stock, targeting the resistance of 39.60, provided the support of 32.39 holds on.
Expected trend for today: Bullish
JPMorgan Chase's stock (JPM) surged in a very volatile session after reporting earnings and profits for the fourth quarter before the close, beating estimates, with the stock surging 2.52% in the last session, or 3.52 points, settling at 143.01, with trading volumes surpassing 20 million shares, above 10-day averages of 10.7 million shares.
Technically, the stock leaned on the upward correctional trend line in the short term, with positive support from the 50-day SMA, with positive signals from the RSI despite reaching overbought levels, piercing the important resistance of 138.66.
Therefore we expect more gains for the stock, targeting the resistance of 151.85, provided it settles above 138.66.
Expected trend for today: Bullish
Wells Fargo's stock (WFC) rose in a volatile session despite reporting a drop in profits, as the banks needs to build up reserves, with the stock ending up 3.25% in the last session, or 1.39 points, settling at 44.22, with trading volumes surpassing 41.6 million shares, above 10-day averages of 19.2 million shares.
Technically, the stock touched the resistance of the 50-day SMA, amid the dominance of the main downward trend in the short term, while the RSI reached overbought levels compared to the stock's movements.
Therefore we expect the stock to return lower, targeting the support of 39.34, provided it settles below 42.64.
Expected trend for today: Bearish
The NZDUSD pair trades negatively to press on the intraday bullish channel’s support line, and the price needs to consolidate above this support and above 0.6350 to keep the bullish trend scenario active, which gets continuous support by the EMA50, reminding you that our awaited targets begin at 0.6440 and extend to 0.6510.
The expected trading range for today is between 0.6340 support and 0.6420 resistance
The expected trend for today: Bullish