REGIONS FINANCIAL CORP (NYSE:RF) Technical Analysis observations.

REGIONS FINANCIAL CORP (NYSE:RF) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:RF.

In-Depth Technical Analysis of NYSE:RF

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Taking everything into account, RF scores 7 out of 10 in our technical rating. In the last year, RF was one of the better performers, but we do observe some doubts in the very recent evolution.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• In the last month RF has a been trading in the 23.69 - 25.25 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• Looking at the yearly performance, RF did better than 76% of all other stocks. We also observe that the gains produced by RF over the past year are nicely spread over this period. However, RF's most recent performance is quite weak.
• RF is an average performer in the Banks industry, it outperforms 57% of 404 stocks in the same industry.
• RF is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so RF is lagging the market.

Our latest full technical report of RF contains the most current technical analsysis.

How do we evaluate the setup for NYSE:RF?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:RF has a 9 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, RF also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 24.43, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:RF?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

More breakout setups can be found in our Breakout screener.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.