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Archive
- 12/13/2024 -
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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 -1.49 points, or -2.52%, and closed at 57.67 on Friday, December 13, 2024. It was the worst weekly loss since September 27, 2024. Weekly volume was -52% 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 63.22 on November 25, 2024. ZION gained -44.96 points, or -246.22%, in 81 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (59.41) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ZION may retest the broken support line. It is considered to be a resistance line now. 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 long-term trend.
 Medium-term trend: [See ZION medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 43.51 and reached 63.22 on November 25, 2024. ZION gained -19.71 points, or -45.30%, in 16 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 44.25 and resistance is at 65.69. 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 Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ZION weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since October 11, 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 ZION short-term trend chart]
A short-term downtrend had started on November 25, 2024 at 63.22 and reached 57.15 on December 13, 2024. ZION lost 6.07 points, or 9.60%, in 18 days. The price is now at the 8.57% retracement level.
 Daily Technical Indicators: [See ZION daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since November 26, 2024. This is an indication that the short-term trend is down.
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 is falling, and it was 7.28% on Friday. It is 52.26% lower than one year average. It indicates the period of low volatility of the stock price. 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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