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- 1 Regions Financial stock price gapped down over 12% after the earnings.
- 2 Regions Financial Corp. (NYSE: RF) reported quarterly earnings on Friday, 20th October which missed the estimates.
- 3 Regions Financial’s stock price may decline to test a 3-year low price.
Regions Financial stock price gapped down nearly 12% after the quarterly earnings. The company declared quarterly results on Friday which triggered a gap-down opening followed by indecisive candlesticks for the last three intraday sessions. The price trend is a bit confusing at the moment about whether to fill the gap or continue to decline.
Moreover, the current quarter has been bearish except for the first two weeks when the price attained a high of $21. Thereafter, the stock price slipped below the key EMAs and went on a continuous drawdown that took the price to a low of $16.
Regions Financial Corp. Stock Price Gapped Down After Earnings
The RF company announced quarterly results on Friday, 20th October which triggered a significant gap down in the price. The earnings and revenues missed the estimates which disappointed the investors and the stock price fell.
The company reported revenues of $1.858 Billion against $1.887 Billion missing the estimates by 1.54%. Also, the earnings were reported at $0.49 Billion; outperforming the estimates by 15.57%.
Regions Financial Stock Price Forecast.
The recent gap-down opening after the results has confused the buyers and sellers as the price is not able to decide a clear direction till now. The price formed doji or neutral candles and is unable to go in either direction.
Bulls and bears are confused about whether the price will go to fill the gap created first or decline to test a 3-year low price. The price trend is bearish at the moment but the continuation requires a breakdown below the earning day’s candle.
The overall technical opinion rating including RSI and MACD signals a 90% “sell” with a strong short-term outlook on maintaining the current direction.
The analysts offering a 1-year price forecast for the Regions Financial stock have a maximum potential of 69.37% on the upside which could lead the price to a high of $24. The minimum estimate of the analysts is also bullish and expects a price hike of 5.68% from the current price and take it to $15.
Conclusion
Regions Financial stock price plunged 12% after missing revenue estimates in quarterly results. The price trend is unclear as the price formed neutral candles after a gap-down opening. The price is bearish in the current quarter and may test a 3-year low.
The technical indicators signal a 90% “sell” rating. The analysts’ 1-year forecast ranges from $15 to $24, which are both higher than the current price. The direction of the price in the near term depends on whether the price will rise to fill the gap or break below the earning day’s candle.
Technical Levels
- Support levels: $13.44 and $12.38
- Resistance levels: $14.97 and $16.85
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
