Broadridge Financial Slides 0.60% As Technicals Signal Resistance At 246

Broadridge Financial Solutions Technical Analysis
Broadridge Financial Solutions (BR) declined 0.60% in the latest session, closing at $242.64 after testing intraday resistance near $246. Below is a multi-indicator assessment of its technical posture.
Candlestick Theory
Recent price action shows a short-term consolidation pattern. The July 23 session formed a bearish engulfing candle near $246 resistance, validating this level as a technical ceiling. Support emerges near $238 (June-July swing lows), while resistance converges around $245–$246 (July highs and April peak). Multiple rejection wicks near $245 confirm selling pressure, suggesting this barrier must be decisively breached for bullish continuation.
Moving Average Theory
The 50-day moving average (~$235) maintains an upward slope above the 100-day (~$230) and 200-day (~$220), confirming a long-term uptrend. However, the current price trading sideways below $246 resistance while hovering just above the 50-DMA indicates near-term consolidation. A sustained close below the 50-DMA could signal short-term bearish momentum acceleration.
MACD & KDJ Indicators
MACD lines are converging near the zero line, reflecting fading bullish momentum but no decisive bearish crossover. The histogram shows diminishing positive bars. KDJ registers a bearish signal with the %K line crossing below %D at overbought territory (above 80) on July 22–23. This divergence suggests potential near-term pullback pressure.
Bollinger Bands
Bollinger Bands contracted sharply since early July, indicating historically low volatility—a typical precursor to directional breakouts. Price currently tests the upper band ($245) but struggles to sustain breaks above it. The contraction phase heightens breakout significance; a close above $246 or below $238 could trigger volatile follow-through.
Volume-Price Relationship
Volume trends show weakness in the current rebound attempt. The rally from July’s $231 low saw decreasing volume on up days (e.g., July 17–18). Conversely, the July 23 decline occurred on elevated volume (807k shares vs. 567k prior), confirming distribution. This divergence undermines the rally’s sustainability and heightens reversal risk near resistance.
Relative Strength Index (RSI)
The 14-day RSI (~60) remains neutral, retreating from near-overbought levels (69 on July 19). While not oversold, its failure to breach 70 during recent highs (July 22–23) signals waning upward momentum. RSI divergence—where price approached the $246 resistance while RSI peaked lower—reinforces the bearish reversal warning.
Fibonacci Retracement
Using the April high ($246.22) and May low ($211.91), key Fibonacci levels are identified. The 61.8% retracement ($234) now acts as support, aligning with the 50-DMA. Resistance converges at the 78.6% level ($244) and the yearly high ($246), creating a critical resistance zone at $244–$246. Failure to break this area may trigger a retracement toward $238 (50% retracement).
Confluence and Divergence Summary
Confluence at $245–$246 resistance (candlesticks, Bollinger Bands, Fibonacci) heightens reversal risk. Bearish divergences include KDJ’s overbought crossover and RSI/pricetop misalignment, reinforced by weak volume on advances. Conversely, the $238–$235 zone (50-DMA, Fibonacci 50%) offers strong support. While the long-term trend favors bulls, indicators collectively suggest near-term consolidation or pullback probability is elevated unless $246 resistance is decisively overcome.