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Uptrend ExhaustionArchive
- 4/19/2024 -
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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 -0.75 points, or -1.84%, and closed at 39.92 on Friday, April 19, 2024. Weekly volume was -40% 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 (39.63) 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 downtrend had started on December 14, 2023 at 46.15 and reached 37.76 on February 1, 2024. ZION lost 8.39 points, or 18.18%, 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. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See ZION short-term trend chart]
A short-term downtrend had started on April 4, 2024 at 43.63 and reached 39.05 on April 19, 2024. ZION lost 4.58 points, or 10.50%, in 15 days. The price is now at the 19.00% retracement level.
 Daily Technical Indicators: [See ZION daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 9, 2024. This is an indication that the short-term trend is down.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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