vlad.adrian

Regions Financial - Strong rejection off support

Panjang
NYSE:RF   Regions Financial Corporation
3
After a very nice bullish divergence that I missed, a rally emerged. I believe that now it's a good time to hop abord this uptrend, because RF tested local support, and rejected it strongly, with an engulfing candle. Today was a strong day for the financial sector. The oscillators don't tell me anything, so that means go with the trend. Target is at 11.50$ where we have the last high. The weekly chart stays above value, but didn't exceed it yet, so it's safe to buy.
Penafian

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