Zion - Top Performing Bank

Published on Wednesday, 25 January 2012 16:46 Written by Danny Miller

New York, January 25th (TradersHuddle.com) - The KBW Bank Index closed higher at $43.53, which represents 0.14% from its previous close. The bank index exhibited strong upside with 16 index components on the plus side.

Zion (NASDAQ:ZION) was the top performer of the banking index, closing at $17.52 representing 2.16%. versus the previous trading session. Shares of Zion, the collection of regional banks with operations in the Western U.S. have defined support at $14.52 and resistance at $19.02.

Huntington Bancshares (NASDAQ:HBAN) was also among the top performers, closing at $5.94 representing 2.15% from its previous close. Huntington Bancshares, the regional banking holding company based in Columbus, Ohio has calculated support and resistance levels at $5.63 and $6.11 respectively. The other top performer was Synovus (NYSE:SNV), which traded at $1.76 representing 1.73% from the previous trading session.

The bank's worst performers include State Street (NYSE:STT) that closed at $39.91 or -3.39% from the previous close. Shares of State Street, the provider of investment management and securities administration have defined support at $39.02 and resistance at $41.92. Also among the worst performers was Bank of New York Mellon (NYSE:BK), which is currently trading at $20.57 representing -3.15% from the previous trading session.

Today, the banks underperformed the broad market index S&P 500.