Regions Financial (RF) recently broke out of the top side of a triangle and appears to be working its way through all the sellers in the $14.50-$14.60 resistance range today. From there, the coast is fairly clear up to about $15.50. Analyst ratings are mostly bullish on the stock.
Note
RF not only failed to breach resistance, but also just broke below its upward trend line, which is a worrying sign of weakness.Note
Back on course to $15.50!Note
So far so good, but RF is entering the high-volume zone from back in April-May and meeting some resistance. I took a little profit here and will take a little more at 15.23.Note
RF tested support after rate cut decision. So far holding above support level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.