A perfect wedge setup going into earnings is upon us for $ZION regional bank! First brought to my attention by @pardis ... he posted when the stock broke out of a long term down trend. Here I will look at the $49 level prior to earnings in the coming days. My year end price target is 15% above the current price as shown on the chart.
Thanks for your like and...
Earnings projections are quite mixed among analysts in Zion like many in the banking sector. Zion has invested heavily in modernizing and improving the approach to technology and It is hoped that it reaps rewards, we see this as a nice long term hold which has been oversold unduly. Crossing above the 200ma would be pivotal for the stock so maybe set $49 as a alert...
ZION is approaching our first support at 45.03 (horizontal swing low support, 61.8%, 100% fiboancci extension) where a strong bounce might occur pushing price up to our first resistance at 48.19 (23.6%, 76.4% Fibonacci retracement, 100% Fibonacci extension). Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce above this level.
ZION appears to be moving inside a symmetrical triangle pattern, nearing the end of this continuation pattern the volatily near the end of the triangle provides for a graet oppotunity for a long.
With upcoming stress test on thurday and most if not all banks expected to pass and raise dividends and increase payout by 100% ZION provides a great opportunity for a...
From its February 6 low of $49.76 ZION is up 14.65% hitting a high of $57.05 on March 9th. It then proceeded to shed 4.52% to a $54.47 low, before rebounding strongly on Friday, to close at the 13 EMA - $55.52. This sets up a classic "4x4 retracement" signal - four consecutive lower closes followed by a rebound towards the primary trend on the fifth day. With a...
On March 31, 2017 the Zion Bancorporation ( NASDAQ:ZION ) crossed below its 100 day for the second time in 9 trading days. Historically this has occurred 169 times and the stock does not always drop. It has a median loss of 3.454 % and maximum loss of 30.112 % over the next 15 trading days.
When we take a look at other technical indicators, the relative strength...
They might be in the best position to profit with any compromise to Dodd Frank. Right now systematically important banks are categorized as any banks with over 50 billion dollars AUM. Zion is around 64 Billion which means the narrowly made the cut. Because of this they have hired hundreds of staff positions to deal with compliance and paperwork. One popular...
I shorted this on Friday, but was unable to post as I was at work. My conservative 2R exit is 26.63, with my entry and stop 28.05 (.5% risk) and 28.77 (1 ATR from entry) respectively. GL!
