New Support for Huntington Bank?

BATS:HBAN   Huntington Bancshares Incorporated
Huntington Bancshares isn’t an actively traded name, but its chart may have some potentially interesting patterns this week.

First is the level around $12.19, its highest weekly close last summer. HBAN jumped above that price in mid-December before testing it in January and again this month. Old resistance may have become new support.

Second is the series of higher weekly lows as it held $12.19.

Third, the 50-day day simple moving average (SMA) had a “golden cross” above the 200-day SMA in mid-December. That may suggest that the longer-term trend has grown more bullish.

Finally, narrowing Bollinger Band Width highlights the stock’s tightening range. Will that price compression give way to expansion?

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