Zions Bancorporation Stock Forecast
Red day on Thursday for Zions Bancorporation
(Updated on Apr 18, 2024)
The Zions Bancorporation stock price fell by -0.305% on the last day (Thursday, 18th Apr 2024) from $39.36 to $39.24. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 2.23% from a day low at $39.09 to a day high of $39.96. The price has fallen in 6 of the last 10 days and is down by -5.94% for this period. Volume has increased on the last day by 443 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $83.90 million.
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 $37.51 and $44.16 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
There are few to no technical positive signals at the moment. The Zions Bancorporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $40.22 and $41.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -9.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Zions Bancorporation stock
Zions Bancorporation finds support from accumulated volume at $39.17 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 $0.87 between high and low, or 2.23%. For the last week, the stock has had daily average volatility of 2.49%.
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 Friday 19th
For the upcoming trading day on Friday, 19th we expect Zions Bancorporation to open at $39.43, and during the day (based on 14 day Average True Range), to move between $37.95 and $40.53, which gives a possible trading interval of +/-$1.29 (+/-3.29%) up or down from last closing price. If Zions Bancorporation takes out the full calculated possible swing range there will be an estimated 6.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $39.25 (0.03%) than the support at $39.17 (0.18%), 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.
Earnings coming up
Zions Bancorporation will release earnings BMO on Monday, April 22, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.00. We will update the financials statements for Zions Bancorporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.86% in the first trading day after earnings release.
Is Zions Bancorporation stock A Buy?
Zions Bancorporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.033 Sell Candidate Unchanged
Predicted Opening Price for Zions Bancorporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $39.43 ( 0.484%) | $39.24 |
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 | 40.30 | 2.70 % | |
| R2 | 39.97 | 1.85 % | ||
| R1 | 39.76 | 1.33 % | ||
| Current price: | 39.24 | |||
| Support | S1 | 39.10 | -0.363 % | |
| S2 | 38.89 | -0.89 % | ||
| S3 | 38.56 | -1.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.79 | 1.40 % | |
| R2 | 39.65 | 1.04 % | ||
| R1 | 39.25 | 0.0255 % | ||
| Current price | 39.24 | |||
| Support | S1 | 39.17 | -0.178% | |
| S2 | 38.90 | -0.87% | ||
| S3 | 38.87 | -0.94% |
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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