RF downward channel breakout

25 Haz 2019

I've liquidated my long position in Regions Financial after this morning's downward channel breach. RF is still in its horizontal channel, so in the medium term this stock is looking neutral. In the short term, it may head to channel bottom.

1 Tem 2019

Not

RF's downward breakout proved to be a false breakout, as sometimes happens on seasonally bad trading days (which this was). Since then it's not only maintained its adjusted upward channel, but also peeked just a bit above the horizontal channel. It should attempt upward breakout soon.