Stocks quoted in this article:
Over the past several days, regional bank stocks have begun popping up on my radar, looking quite promising. Let's start by viewing the SPDR KBW Regional Banking Index ETF (KRE), which is up over 14% on a year-to-date basis. Using blue arrows, I highlighted on the chart below several occasions over the past five months where KRE has pulled back to the approximate site of its 40-day moving average (red line). More recently, the shares look to have completed another pullback to their 40-day trendline. In addition, we have price support from the 2011 highs.
And here are the charts for a few regional banking names currently on my radar -- BB&T Corp. (BBT), Zions Bancorporation (ZION), and Comerica (CMA):
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