ZION DCA - Inv H&S
Company: Zions Bancorporation N.A.
Ticker: ZION
Exchange: NASDAQ
Sector: Finance
Introduction:
In today's analysis, we turn our attention to Zions Bancorporation N.A. (ZION) listed on the NASDAQ, a noteworthy constituent of the finance sector. Examining the daily chart reveals a potential bullish reversal in the form of an Inverted Head and Shoulders pattern that has been developing over the past 126 days.
Inverted Head and Shoulders Pattern:
An Inverted Head and Shoulders pattern typically marks a potential trend reversal, signaling a shift from a downtrend to an uptrend. The pattern consists of three troughs, with the middle trough (the head) being the deepest and the two outside troughs (the shoulders) being shallower and roughly equal to each other.
Analysis:
ZION's previous trend was downward, illustrated by the blue diagonal dashed line. However, this downtrend appears to be interrupted by an Inverted Head and Shoulders pattern, suggesting a potential reversal to the upside. The symmetry between the shoulders is compelling, and the head is typical of such a pattern. The pattern's horizontal neckline is situated at 32.79.
At present, the price is below the 200 EMA, warranting caution when considering entering positions. A potential long position should only be considered if the price closes convincingly above the horizontal neckline. In the case of a successful breakout, the price target would be at 47.38, which corresponds to an approximate increase of 44.42%.
Conclusion:
Zions Bancorporation's daily chart presents a possible bullish reversal setup. This setup, if confirmed by a breakout above the neckline, could provide a favorable long trading opportunity.
Remember, this analysis should be used as a component of your overall market research and risk management strategy, not as direct trading advice.
If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading!
Best regards,
Karim Subhieh
Disclaimer: This analysis is not financial advice and is intended for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions.
Ticker: ZION
Exchange: NASDAQ
Sector: Finance
Introduction:
In today's analysis, we turn our attention to Zions Bancorporation N.A. (ZION) listed on the NASDAQ, a noteworthy constituent of the finance sector. Examining the daily chart reveals a potential bullish reversal in the form of an Inverted Head and Shoulders pattern that has been developing over the past 126 days.
Inverted Head and Shoulders Pattern:
An Inverted Head and Shoulders pattern typically marks a potential trend reversal, signaling a shift from a downtrend to an uptrend. The pattern consists of three troughs, with the middle trough (the head) being the deepest and the two outside troughs (the shoulders) being shallower and roughly equal to each other.
Analysis:
ZION's previous trend was downward, illustrated by the blue diagonal dashed line. However, this downtrend appears to be interrupted by an Inverted Head and Shoulders pattern, suggesting a potential reversal to the upside. The symmetry between the shoulders is compelling, and the head is typical of such a pattern. The pattern's horizontal neckline is situated at 32.79.
At present, the price is below the 200 EMA, warranting caution when considering entering positions. A potential long position should only be considered if the price closes convincingly above the horizontal neckline. In the case of a successful breakout, the price target would be at 47.38, which corresponds to an approximate increase of 44.42%.
Conclusion:
Zions Bancorporation's daily chart presents a possible bullish reversal setup. This setup, if confirmed by a breakout above the neckline, could provide a favorable long trading opportunity.
Remember, this analysis should be used as a component of your overall market research and risk management strategy, not as direct trading advice.
If you found this analysis helpful, please consider liking, sharing, and following for more insights. Wishing you profitable trading!
Best regards,
Karim Subhieh
Disclaimer: This analysis is not financial advice and is intended for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions.
KSC
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