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Downtrend Broken Resist.Archive
- 4/19/2024 -
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Huntington Bancshares (HBAN) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Huntington Bancshares (HBAN). During the week, the HBAN gave back -0.03 points, or -0.23%, and closed at 13.28 on Friday, April 19, 2024. Weekly volume was 46% above average.
HBAN 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 HBAN long-term trend chart]
A long-term downtrend had started on January 18, 2022 at 17.79 and reached 9.13 on May 12, 2023. HBAN lost 8.66 points, or 48.68%, in 68 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (6.61) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See HBAN medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 9.25 and reached 14.07 on April 9, 2024. HBAN gained -4.82 points, or -52.11%, in 23 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (14.64) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. HBAN may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See HBAN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See HBAN short-term trend chart]
A short-term downtrend had started on April 9, 2024 at 14.07 and reached 12.80 on April 19, 2024. HBAN lost 1.27 points, or 9.03%, in 10 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See HBAN daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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.
The daily MACD line is below its signal line since April 10, 2024. This is an indication that the short-term trend is down.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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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