Chart of the Day: Are Regional Banks Turning Higher?


Regional banks had a big surge in late 2023. Now, after a period of consolidation, some traders may expect further gains.

The first pattern on today’s chart of the SPDR S&P Regional Banking ETF is the falling trendline along the highs of January and early March. KRE is trying to clear that resistance, which may suggest a breakout is starting.

Second, price action has been very tight. Bollinger Bandwidth shows a potential …

For more, please click here to view the related idea and chart analysis on TradingView.

SPDR S&P Regional Banking ETF (KRE), daily chart, with selected patterns and indicators, courtesy of TradingView.
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