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Downtrend ResistanceArchive
- 1/3/2025 -
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Zions Bancorp (ZION) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a second positive week after 4 consecutive negative weeks for the Zions Bancorp (ZION). During the week, the ZION climbed 0.21 points, or 0.38%, and closed at 54.89 on Friday, January 3, 2025. Weekly volume was -48% 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 (60.74) 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 long-term trend.
 Medium-term trend: [See ZION medium-term trend chart]
A medium-term uptrend had started on February 1, 2024 at 37.76 and reached 63.22 on November 25, 2024. ZION gained -25.46 points, or -67.43%, in 42 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 46.78 and resistance is at 66.96. 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 medium-term trend.
 Weekly Technical Indicators: [See ZION weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 52.09 on December 20, 2024. ZION lost 11.13 points, or 17.61%, in 25 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See ZION daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since November 26, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the 20 Day Moving Average 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.
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