Fiserv Stock ( NYSE: FI ) price is showing an inclining move and starts to chase the supply range of $123 which is soon going to be retested. FI stock is trading above the significant moving averages and stayed in an uptrend. Moreover, the price action shows bull move and rise in momentum within the rising parallel channel.
Buyers are showing their dominance and continue to accumulate. FI stock is trading in the bullish territory and continues to gain traction forming a bullish candle at the base of $100 and continuing to pullback from that mark.
Fiserv, Inc. is a global provider of payments and financial services technology solutions. The Company provides account processing and digital banking solutions, card issuer processing and network services, payments, e-commerce, merchant acquiring and processing, and the Clover cloud-based point-of-sale solution.
Recently, FI stock formed a hammer candle near the lower trendline of the channel near the mark of $110 and showed a sharp bounce from there which broke the previous swing high of $118 in the last trading sessions.
At press time, Fiserv stock was traded at $119.96 with a downmove of 0.32% showing neutral indications during the Friday market close. Moreover, the trading volume was noted at 6.42 Million.
What Fiserv Stock Indicates on Daily Charts?
On the daily charts, Fiserv stock is showing a rising wedge pattern and bulls convincingly continued to defend the lower trendline and again took a bounce from there which shows signs of strength in the past trading sessions.
Moreover, the price action shows if bulls persist to attain further momentum and show follow on buying in the next sessions, then the trajectory move will led the stock towards the mark of $125 and follow on towards $130 soon. On the other hand, if rejection was there in the next sessions, Fi stock will retested the 20 day EMA mark of $115.
Will FI stock continue to go further?
On the 4 hours chart, FI stock stayed on the top near the highs of $120 and showed their massive muscles in front of the mighty bears. While, sellers are willing to make short positions, but looking for the perfect momentum to enter and buyers unwilling to lay back and continue to take charge.
The RSI curve is floating near 64 and continued to stay in the overbought zone and still showing bullishness. Moreover, positive divergence was noted on the charts which led the bounce in the last trading session.
The MACD indicator showed bullish crossover and continued to show green bars on the histogram showing positive outlooks.
Conclusion:
Fiserv stock has continued to gain momentum and persist to fly higher from the last trading sessions and peeking bullishness.
Technical levels:
Major support: $110
Major resistance: $125
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/19/fiserv-stock-nyse-fi-forming-channel-riding-above-20-day-ema/