Schaeffer's Trading Floor Blog

Regional Banks on the Radar: KRE, BBT, ZION, CMA

Regional bank stocks are starting to look appealing, from a technical perspective

by 4/12/2012 2:33 PM
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.

KRE price chart
Chart courtesy of StockCharts.com

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):

BBT price chart
Chart courtesy of StockCharts.com

ZION price chart
Chart courtesy of StockCharts.com

CMA price chart
Chart courtesy of StockCharts.com


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