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Downtrend ResistanceArchive
- 4/5/2024 -
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Regions Financial Corp. (RF) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Regions Financial Corp. (RF). During the week, the RF dropped -0.89 points, or -4.23%, and closed at 20.15 on Friday, April 5, 2024. It was the worst weekly loss since January 12, 2024. Weekly volume was -39% below 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 12.25 and resistance is at 22.82. 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 trend support level is at 19.34 and resistance is at 21.51. 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 medium-term trend.
 Weekly Technical Indicators: [See RF weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. 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 19.79 on April 5, 2024. RF lost 1.29 points, or 6.12%, in 8 days. The price is now at the 27.91% retracement level.
 Daily Technical Indicators: [See RF daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
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