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Regional Banks Industry Stocks Technical Analysis - CFGArchive
- 11/15/2024 -
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Citizens Financial Group (CFG) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the Citizens Financial Group (CFG). During the week, the CFG gained 0.74 points, or 1.62%, and closed at 46.55 on Friday, November 15, 2024. Weekly volume was -38% below average.
CFG 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 CFG long-term trend chart]
A long-term downtrend had started on January 18, 2022 at 57.00 and reached 22.77 on October 27, 2023. CFG lost 34.23 points, or 60.05%, in 92 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (13.18) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See CFG medium-term trend chart]
A medium-term uptrend had started on September 11, 2024 at 38.51 and reached 48.35 on November 6, 2024. CFG gained -9.84 points, or -25.55%, in 8 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 43.06 and resistance is at 46.92. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See CFG weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 1, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See CFG short-term trend chart]
A short-term uptrend had started on October 22, 2024 at 40.76 and reached 48.35 on November 6, 2024. CFG gained -7.59 points, or -18.62%, in 15 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See CFG daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since November 5, 2024. This is an indication that the short-term trend is up.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Financials |
12 |
| Industry |
Regional Banks |
112 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
40.76 |
| Low Date |
10/22/2024 |
| High |
48.35 |
| High Date |
11/06/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Status |
Valid |
| Resistance |
46.92 |
| Support |
43.06 |
| Low |
38.51 |
| Low Date |
09/11/2024 |
| High |
48.35 |
| High Date |
11/06/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
36.85 |
| Low Date |
08/05/2024 |
| High |
48.35 |
| High Date |
11/06/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
22.77 |
| Low Date |
10/27/2023 |
| High |
48.35 |
| High Date |
11/06/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Resistance |
| Resistance |
24.03 |
| Support |
13.18 |
| High |
57.00 |
| High Date |
01/18/2022 |
| Low |
22.77 |
| Low Date |
10/27/2023 |
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