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Archive
- 7/19/2024 -
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Fifth Third Bancorp (FITB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Fifth Third Bancorp (FITB). During the week, the FITB gained 2.51 points, or 6.52%, and closed at 40.99 on Friday, July 19, 2024. Weekly volume was 18% above average.
FITB 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 FITB long-term trend chart]
A long-term uptrend had started on March 13, 2023 at 22.11 and reached 41.41 on July 18, 2024. FITB gained -19.30 points, or -87.29%, in 70 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (35.79) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 FITB medium-term trend chart]
A medium-term uptrend had started on May 4, 2023 at 22.46 and reached 41.41 on July 18, 2024. FITB gained -18.95 points, or -84.37%, in 63 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (41.17). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See FITB weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 below its signal line since May 24, 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 FITB short-term trend chart]
A short-term uptrend had started on July 9, 2024 at 35.17 and reached 41.41 on July 18, 2024. FITB gained -6.24 points, or -17.74%, in 9 days. The price is now at the 6.73% retracement level.
 Daily Technical Indicators: [See FITB daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since June 21, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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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