Regions Financial Broke Resistance

Published on Monday, 06 February 2012 05:32 Written by Danny Miller

New York, February 6th (TradersHuddle.com) - Shares of Regions Financial Corporation (NYSE:RF) closed the trading session at $5.64 just above calculated resistance at $5.46 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

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.

Regions Financial's stock was trading in a well defined range with support at $4.53 and resistance at $5.46, given that this range was broken traders will be closely monitoring the stock