ZION pushes through Tuesday's high
Zions Bancorporation N.A. (ZION) Technical Analysis Report for Dec 04, 2019 | by Techniquant Editorial Team
ZION ended Wednesday at 49.11 gaining $0.54 (1.11%), slightly outperforming the S&P 500 (0.63%). Closing above Tuesday's high at 49.00, the share confirmed its breakout through the previous session high after trading up to $0.36 above it intraday.
Daily Candlestick Chart (ZION as at Dec 04, 2019):
Wednesday's trading range has been $0.72 (1.48%), that's slightly above the last trading month's daily average range of $0.65. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for ZION.
Prices are trading close to the key technical resistance level at 49.71 (R1).
Though the market is currently in a short-term downtrend, this could just be a correction, as both the medium and long-term trends are still bullish.