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Archive
- 5/10/2024 -
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Zions Bancorp (ZION) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a third positive week after 3 consecutive negative weeks for the Zions Bancorp (ZION). During the week, the ZION gained 0.70 points, or 1.60%, and closed at 44.32 on Friday, May 10, 2024. Weekly volume was -60% 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 46.15 on December 14, 2023. ZION gained -27.89 points, or -152.74%, in 32 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 40.96 and resistance is at 52.86. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge 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. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (39.41) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ZION may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See ZION weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 44.49 on May 9, 2024. ZION gained -6.73 points, or -17.82%, in 98 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (44.80). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a short-term trend.
 Daily Technical Indicators: [See ZION daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since April 23, 2024. This is an indication that the short-term trend is up.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Financials |
9 |
| Industry |
Regional Banks |
105 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
39.05 |
| Low Date |
04/19/2024 |
| High |
44.49 |
| High Date |
05/09/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Test Resistance |
| Resistance |
44.80 |
| Support |
39.38 |
| Low |
37.76 |
| Low Date |
02/01/2024 |
| High |
44.49 |
| High Date |
05/09/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Resistance |
| Resistance |
42.76 |
| Support |
39.41 |
| High |
46.15 |
| High Date |
12/14/2023 |
| Low |
37.76 |
| Low Date |
02/01/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Valid |
| Resistance |
52.86 |
| Support |
40.96 |
| Low |
18.26 |
| Low Date |
05/04/2023 |
| High |
46.15 |
| High Date |
12/14/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
75.44 |
| High Date |
02/10/2022 |
| Low |
18.26 |
| Low Date |
05/04/2023 |
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