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Archive
- 4/19/2024 -
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Fifth Third Bancorp (FITB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Fifth Third Bancorp (FITB). During the week, the FITB gained 1.72 points, or 4.98%, and closed at 36.25 on Friday, April 19, 2024. Weekly volume was 32% above average.
FITB 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 FITB long-term trend chart]
A long-term uptrend had started on March 13, 2023 at 22.11 and reached 37.41 on March 28, 2024. FITB gained -15.30 points, or -69.20%, in 54 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 34.29 and resistance is at 37.28. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See FITB medium-term trend chart]
A medium-term uptrend had started on February 13, 2024 at 32.29 and reached 37.41 on March 28, 2024. FITB gained -5.12 points, or -15.86%, in 6 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See FITB weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 Williams' Percentage Range help.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See FITB short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 37.41 and reached 33.82 on April 16, 2024. FITB lost 3.59 points, or 9.60%, in 19 days. The chart has formed a Falling Channel chart pattern.
 Daily Technical Indicators: [See FITB daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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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