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Zions Bancorp Set to Possibly Pullback After Yesterday's Rally of 1.05%

By David Diaz

Zions Bancorp (NASDAQ:ZION) traded in a range yesterday that spanned from a low of $44.73 to a high of $45.10. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $44.69 on volume of 936,000 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, Zions Bancorp has traded in a range of $38.08 to $59.19 and is now at $45.01, 18% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.7%.

SmarTrend is monitoring the recent change of momentum in Zions Bancorp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Zions Bancorp in search of a potential trend change.

Keywords: rebounders Zions Bancorp

Ticker(s): ZION