Close to the 200 Day - Regions Financial

Published on Tuesday, 31 January 2012 07:44 Written by Christian Paolinetti

New York, January 31st (TradersHuddle.com) - Shares of Regions Financial Corporation (NYSE:RF) traded at $5.17 close to its 200 day moving average currently set at $5.06. Regions Financial's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

Regions Financial Corporation (NYSE:RF) is a regional multi-bank holding company. The Company provides mortgage banking, leasing, commercial accounts receivable factoring, specialty mortgage financing, and securities brokerage services. Regions provides banking services throughout the South, Midwest, and Eastern United States.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $4.53 and calculated resistance at $5.46. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Regions Financial stock.

Traders wanting to establish a position on Regions Financial will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.