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Archive
- 4/5/2024 -
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U.S. Bancorp (USB) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the U.S. Bancorp (USB). During the week, the USB dropped -1.67 points, or -3.74%, and closed at 43.03 on Friday, April 5, 2024. It was the worst weekly loss since February 2, 2024. Weekly volume was -53% 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 45.85 on December 14, 2023. USB gained -18.58 points, or -68.13%, in 32 weeks. The price is now at the 15.18% retracement level.
 Medium-term trend: [See USB medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 30.47 and reached 45.85 on December 14, 2023. USB gained -15.38 points, or -50.48%, in 6 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (43.37) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
 Weekly Technical Indicators: [See USB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 February 7, 2024 at 38.87 and reached 45.04 on March 22, 2024. USB gained -6.17 points, or -15.87%, in 44 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (43.05) 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 short-term trend.
Daily Technical Indicators: [See USB daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (6.23%) is close to one year low (5.79%). It is 56.32% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
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