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Uptrend Broken SupportArchive
- 4/19/2024 -
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U.S. Bancorp (USB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the U.S. Bancorp (USB). During the week, the USB dropped -1.13 points, or -2.72%, and closed at 40.45 on Friday, April 19, 2024. USB was trading at average weekly trading volume.
USB 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 USB long-term trend chart]
A long-term uptrend had started on May 4, 2023 at 27.27 and reached 45.85 on December 14, 2023. USB gained -18.58 points, or -68.13%, in 32 weeks. The price is now at the 29.06% retracement level.
 Medium-term trend: [See USB medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 30.47 and reached 45.85 on December 14, 2023. USB gained -15.38 points, or -50.48%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (44.96) 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. USB 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 USB weekly technical indicators chart]
Weekly technical indicators are neutral.
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 USB short-term trend chart]
A short-term downtrend had started on March 22, 2024 at 45.04 and reached 38.79 on April 17, 2024. USB lost 6.25 points, or 13.88%, in 26 days. The price is now at the 26.56% retracement level.
 Daily Technical Indicators: [See USB daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down.
A Parabolic SAR (stop and reversal) indicator (40.76) comes close to the price (40.45). It indicates that the trend is getting weaker. 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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