Regions Financial Is Moving Above Resistance
Published on Friday, 04 May 2012 05:24 Written by TradersHuddle Wire
New York, May 4th (TradersHuddle.com) - Shares of Regions Financial Corporation (NYSE:RF) closed the session at $6.98 just above calculated resistance at $6.94. The stock moved to what appears to be a higher range, spurring attention from 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.
The stock was trading in a well defined range with support at $5.91 and resistance at $6.94. Given that this range was broken, traders will be closely monitoring Regions Financial's price action to gather clues on the future direction.
From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that Regions Financial is still near the broken resistance level, traders will be focusing on the $6.94 level to see if the stock holds the breakout without rolling over.
- Everest Group Recognizes Cognizant as a Global Leader and Star Performer in Healthcare Payer IT Outsourcing
- Cognizant to Present at Investor Conferences
- Cognizant Selected by CareFirst BlueCross BlueShield to Support Mobile Technology Initiatives
- Saudi Electricity Company Selects Cognizant to Transform Service Delivery and Enhance Customer Satisfaction
- Cognizant Announces Record Results For Second Quarter 2013
- Cognizant to Present at the Pacific Crest 2013 Global Technology Leadership Forum
- BetterInvesting Magazine Releases October Stock To Study And Undervalued Stock Choices For Investors' Informational And Educational Use
- Segmented Consumer Experience and Digital Wallet Capabilities Hold Keys to the Future of Mobile Banking, Finds Cognizant and Monitise Study
- XL Group and Cognizant Team Up to Transform Risk Consulting Operations
- Cognizant Schedules Second-Quarter 2013 Earnings Release and Conference Call
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines