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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Zions Bancorp (ZION) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Zions Bancorp (ZION). During the week, the ZION dropped -1.32 points, or -3.04%, and closed at 42.08 on Friday, April 5, 2024. Weekly volume was -53% below average.
ZION is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See ZION long-term trend chart]
A long-term uptrend had started on May 4, 2023 at 18.26 and reached 46.15 on December 14, 2023. ZION gained -27.89 points, or -152.74%, in 32 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (41.49) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
 Medium-term trend: [See ZION medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 28.90 and reached 46.15 on December 14, 2023. ZION gained -17.25 points, or -59.69%, in 7 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See ZION weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since February 23, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
Short-term trend: [See ZION short-term trend chart]
A short-term uptrend had started on March 14, 2024 at 39.23 and reached 43.63 on April 4, 2024. ZION gained -4.40 points, or -11.22%, in 21 days. The price is now at the 35.23% retracement level.
Daily Technical Indicators: [See ZION daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since March 19, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
The distance between the Bollinger Bands is falling, and it was 10.55% on Friday. It is 52.29% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See ZION candlestick chart pattern]
On Friday the chart has formed a Bearish Thrusting Candlestick pattern. This pattern occurs in a downtrend and it shows a rally failure in a down market. This is a weak continuation pattern. The reliability of the Bearish Thrusting pattern is low. Use the Technical Stock Screener to see the list of stocks that had a Bearish Thrusting Candlestick pattern during the last week.
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