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- 3/15/2024 -
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Zions Bancorp (ZION) Technical Analysis

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Summary:
Weekly :Overbought sectorPrice is near the Fibonacci 23.6% retracement level
Daily :The price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was the negative week for the Zions Bancorp (ZION). During the week, the ZION dropped -2.45 points, or -5.80%, and closed at 39.79 on Friday, March 15, 2024. Weekly volume was 47% above 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 46.15 on December 14, 2023. ZION gained -27.89 points, or -152.74%, in 32 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 37.50 and resistance is at 52.74. 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 long-term trend.

Medium-term trend: [See ZION medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 46.15 and reached 37.76 on February 1, 2024. ZION lost 8.39 points, or 18.18%, in 7 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See ZION weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 23, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See ZION short-term trend chart]
A short-term uptrend had started on February 1, 2024 at 37.76 and reached 42.95 on March 8, 2024. ZION gained -5.19 points, or -13.74%, in 36 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See ZION daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since March 4, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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 is falling, and it was 11.56% on Friday. It is 58.18% 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.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.50
Williams' Percentage Range (W%R) 67.80
Lane's Stochastic (%D-Slow) 48.69
Greed/Fear Indicator (GFI) 46.13
Moving Average Converg./Diverg. (MACD) -0.08
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.84
Williams' Percentage Range (W%R) 38.00
Lane's Stochastic (%D-Slow) 30.70
Greed/Fear Indicator (GFI) 46.41
Moving Average Converg./Diverg. (MACD) 1.51
Trading Signals
Description Value Chart
Parabolic System 42.92
Upper Bollinger Band 42.73
50 Day Moving Average 41.16
Daily Stochastic Crossing 40.82
20 Day Moving Average 40.04
Weekly Stochastic Crossing 40.01
Price 39.79
Lower Bollinger Band 38.12
Quarterly Trendline Support 37.50
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Regional Banks 46
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 37.76
Low Date 02/01/2024
High 42.95
High Date 03/08/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 46.15
High Date 12/14/2023
Low 37.76
Low Date 02/01/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 28.90
Low Date 10/25/2023
High 46.15
High Date 12/14/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 52.74
Support 37.50
Low 18.26
Low Date 05/04/2023
High 46.15
High Date 12/14/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 75.44
High Date 02/10/2022
Low 18.26
Low Date 05/04/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.