Zions Bancorporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of Zions Bancorporation stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The Zions Bancorporation stock price gained 1.04% on the last trading day (Tuesday, 23rd Apr 2024), rising from $41.32 to $41.75. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.42% from a day low at $41.12 to a day high of $42.12. The price has fallen in 6 of the last 10 days and is down by -4.05% for this period. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately $80.85 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Zions Bancorporation stock with a 90% probability to be traded between $38.18 and $43.59 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ZION Signals & Forecast
The Zions Bancorporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $40.21 and $41.25. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.40%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Zions Bancorporation stock
Zions Bancorporation finds support from accumulated volume at $39.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.00 between high and low, or 2.42%. For the last week, the stock has had daily average volatility of 3.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZION) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Zions Bancorporation to open at $41.66, and during the day (based on 14 day Average True Range), to move between $40.43 and $43.07, which gives a possible trading interval of +/-$1.32 (+/-3.17%) up or down from last closing price. If Zions Bancorporation takes out the full calculated possible swing range there will be an estimated 6.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $41.90 (0.36%) than the support at $39.79 (4.69%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Zions Bancorporation stock A Buy?
Zions Bancorporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.380 Sell Candidate Downgraded
Predicted Opening Price for Zions Bancorporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $41.66 ( 0.212%) | $41.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZION
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.66 | 2.17 % | |
| R2 | 42.28 | 1.26 % | ||
| R1 | 42.04 | 0.699 % | ||
| Current price: | 41.75 | |||
| Support | S1 | 41.28 | -1.12 % | |
| S2 | 41.05 | -1.68 % | ||
| S3 | 40.67 | -2.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.14 | 5.72 % | |
| R2 | 42.24 | 1.17 % | ||
| R1 | 41.90 | 0.359 % | ||
| Current price | 41.75 | |||
| Support | S1 | 39.79 | -4.69% | |
| S2 | 39.65 | -5.03% | ||
| S3 | 39.25 | -5.99% |
ZION Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Feb 14, 2024 | Feb 22, 2024 | $0.410 | 1.03% |
| 2 | Oct 27, 2023 | Nov 08, 2023 | Nov 16, 2023 | $0.410 | 1.15% |
| 3 | Jul 28, 2023 | Aug 16, 2023 | Aug 24, 2023 | $0.410 | 1.19% |
| 4 | May 05, 2023 | May 17, 2023 | May 25, 2023 | $0.410 | 1.45% |
| 5 | Jan 27, 2023 | Feb 15, 2023 | Feb 23, 2023 | $0.410 | 0.83% |
FAQ
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