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Zions Bancorp Set to Possibly Rebound After Yesterday's Selloff of 2.89%

By Nick Russo

Zions Bancorp (NASDAQ:ZION) traded in a range yesterday that spanned from a low of $43.04 to a high of $44.02. Yesterday, the shares fell 2.9%, which took the trading range below the 3-day low of $43.58 on volume of 1.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Zions Bancorp share prices have moved between a 52-week high of $48.33 and a 52-week low of $23.02 and are now trading 87% above that low price at $43.14 per share. The 200-day and 50-day moving averages have moved 0.33% lower and 1.69% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Zions Bancorp on June 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.01. Since that recommendation, shares of Zions Bancorp have risen 5.5%. We continue to monitor ZION for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Zions Bancorp

Ticker(s): ZION