3 Regionals that Continue to Look Good

Banks have a had a topsy turvy route the last few weeks with the regionals looking good and then fading and then repeating the cycle. With the recent rollover 3 banks still look good for more upside though. Take a look.

Keycorp, $KEY

Keycorp, $KEY, has been rising from a bottom at 6.80 in early June and recently consolidating. It has some topping tails so caution for a long entry until the trigger is met. A move over the consolidation at 8.40 carries a Measured Move to 8.85. Another reason to wait for the trigger is that the 3-box reversal Point and Figure chart (PnF) carries a price objective of 1.50. Despite that the Relative Strength Index (RSI) is bullish and the Moving Average Convergence Divergence indicator (MACD) is negative but holding flat at a low level.

PNC Financial, $PNC

PNC Financial, $PNC, is testing resistance at 62.40 with a RSI that is bullish and a MACD that is positive reenforcing the bullish bias. A break over 62.40 carries a Measured Move to 64.60 and the PnF has a price objective at 76.00. Again wait fore the breakout.

Regions Financial, $RF

Regions Financial, $RF, is angling higher off of a bottom at 5.50 in early June. Now consolidating at 7.20 it carries a Measured Move higher to 8.20 on a break higher and the PnF agrees with a price objective at 14.25. The RSI is bullish but fading, as happens often in a consolidation, with a MACD that is flat but negative. Wait for the breakout.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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