After Yesterday's Rally of 3.11% Shares Could Potentially Pullback
Regions Financial (NYSE:RF) traded in a range yesterday that spanned from a low of $9.14 to a high of $9.54. Yesterday, the shares gained 3.1%, which took the trading range above the 3-day high of $9.31 on volume of 16.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Regions Financial has traded in a range of $7.00 to $10.87 and is now at $9.46, 35% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.5%.
SmarTrend recommended that subscribers consider buying shares of Regions Financial on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.19. Since that recommendation, shares of Regions Financial have risen 12.0%. We continue to monitor RF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders regions financial