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Uptrend ExhaustionArchive
- 4/19/2024 -
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Regions Financial Corp. (RF) Technical Analysis
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| Summary:
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| | It was the negative week for the Regions Financial Corp. (RF). During the week, the RF dropped -0.29 points, or -1.51%, and closed at 18.90 on Friday, April 19, 2024. Weekly volume was 17% above average.
RF 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 RF long-term trend chart]
A long-term downtrend had started on February 16, 2022 at 25.57 and reached 13.72 on October 25, 2023. RF lost 11.85 points, or 46.34%, in 88 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 12.11 and resistance is at 22.77. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See RF medium-term trend chart]
A medium-term uptrend had started on February 7, 2024 at 17.42 and reached 21.08 on March 28, 2024. RF gained -3.66 points, or -21.01%, in 7 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (19.82) 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. RF 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 medium-term trend.
 Weekly Technical Indicators: [See RF weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 1, 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 RF short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 21.08 and reached 18.40 on April 19, 2024. RF lost 2.68 points, or 12.71%, in 22 days. The price is now at the 18.66% retracement level.
 Daily Technical Indicators: [See RF daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 daily MACD line is below its signal line since April 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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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