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Downtrend ResistanceArchive
- 4/26/2024 -
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U.S. Bancorp (USB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the U.S. Bancorp (USB). During the week, the USB gained 0.67 points, or 1.66%, and closed at 41.12 on Friday, April 26, 2024. Weekly volume was -42% below average.
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. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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 (45.57) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
 Weekly Technical Indicators: [See USB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. The distance between MACD and the signal line is low, but getting bigger. 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. Price is near the Fibonacci 38.2% retracement level.
Daily Technical Indicators: [See USB daily technical indicators chart]
Daily technical indicators are neutral. 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.
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 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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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