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Archive
- 4/26/2024 -
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Truist Fin (TFC) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a second consecutive positive week for the Truist Fin (TFC). During the week, the TFC gained 1.37 points, or 3.72%, and closed at 38.17 on Friday, April 26, 2024. Weekly volume was -18% below average.
TFC 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 TFC long-term trend chart]
A long-term downtrend had started on January 18, 2022 at 68.95 and reached 25.56 on May 4, 2023. TFC lost 43.39 points, or 62.93%, in 67 weeks. The price is now at the 29.06% retracement level.
 Medium-term trend: [See TFC medium-term trend chart]
A medium-term uptrend had started on May 4, 2023 at 25.56 and reached 39.29 on March 28, 2024. TFC gained -13.73 points, or -53.72%, in 47 weeks. The price is now at the 8.16% retracement level.
 Weekly Technical Indicators: [See TFC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since June 9, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See TFC short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 34.23 and reached 39.29 on March 28, 2024. TFC gained -5.06 points, or -14.78%, in 44 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 35.17 and resistance is at 41.24. 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 short-term trend.
 Daily Technical Indicators: [See TFC daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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