Fiserv Fights a Trendline
Fiserv has squeezed into a tight range, and now some traders may think a breakout has begun.
The first pattern on today’s chart is the falling trendline since the end of March. Notice how the provider of banking IT services has crossed above that line.
Second, FI has repeatedly bounced at $146 since late February. That could suggest support has been established above its previous all-time highs.
Third, FI tried to rally on April 23 after raising guidance. However MACD was falling at the time and that negative momentum dragged on prices. This time, however, the oscillator is rising.
Next, Bollinger Bandwidth recently tightened to its narrowest reading since January 2020. Will that volatility compression give way to expansion?
Finally, the 50- and 100-day simple moving averages are on top of each other. That highlights the period of consolidation and may reflect a longer-term uptrend.
The 8-day exponential moving average (EMA) also crossed above the 21-day EMA. That may reflect a shorter-term uptrend.
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Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit [url =tradestation.com/DisclosureTSCompanies] TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
The first pattern on today’s chart is the falling trendline since the end of March. Notice how the provider of banking IT services has crossed above that line.
Second, FI has repeatedly bounced at $146 since late February. That could suggest support has been established above its previous all-time highs.
Third, FI tried to rally on April 23 after raising guidance. However MACD was falling at the time and that negative momentum dragged on prices. This time, however, the oscillator is rising.
Next, Bollinger Bandwidth recently tightened to its narrowest reading since January 2020. Will that volatility compression give way to expansion?
Finally, the 50- and 100-day simple moving averages are on top of each other. That highlights the period of consolidation and may reflect a longer-term uptrend.
The 8-day exponential moving average (EMA) also crossed above the 21-day EMA. That may reflect a shorter-term uptrend.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit [url =tradestation.com/DisclosureTSCompanies] TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
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