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Zions Bancorp Set to Possibly Rebound After Yesterday's Selloff of 2.77%

By Nick Russo

Zions Bancorp (NASDAQ:ZION) traded in a range yesterday that spanned from a low of $47.80 to a high of $50.23. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $49.11 on volume of 1.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Zions Bancorp has traded in a range of $23.02 to $59.19 and is now at $48.08, 109% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Zions Bancorp on May 29th, 2018 by issuing a Downtrend alert when the shares were trading at $55.71. Since that call, shares of Zions Bancorp have fallen 11.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Zions Bancorp

Ticker(s): ZION