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Archive
- 11/22/2024 -
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U.S. Bancorp (USB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the U.S. Bancorp (USB). During the week, the USB gained 2.43 points, or 4.85%, and closed at 52.49 on Friday, November 22, 2024. Weekly volume was -10% below average.
USB 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 USB long-term trend chart]
A long-term uptrend had started on May 4, 2023 at 27.27 and reached 52.69 on November 22, 2024. USB gained -25.42 points, or -93.22%, in 81 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 41.81 and resistance is at 59.76. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See USB medium-term trend chart]
A medium-term uptrend had started on June 11, 2024 at 37.81 and reached 52.69 on November 22, 2024. USB gained -14.88 points, or -39.35%, in 23 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (45.34) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 medium-term trend.
 Weekly Technical Indicators: [See USB 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 above its signal line since July 19, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See USB short-term trend chart]
A short-term uptrend had started on November 7, 2024 at 49.34 and reached 52.69 on November 22, 2024. USB gained -3.35 points, or -6.79%, in 15 days. The price is now at the 5.97% retracement level.
 Daily Technical Indicators: [See USB daily technical indicators chart]
Daily technical indicators are neutral. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is above its signal line since November 20, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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