This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Regions Financial(RF - Get Report) is a financial holding company. Regions operate throughout the South, Midwest and Texas. This stock is trading up 5.9% to $6.45 in recent trading.
Today's Range: $6.12-$6.50
52-Week Range: $2.82-$7.45
Volume: 30.3 million
Three-Month Average Volume: 25.7 million
Shares of RF are ripping higher today after the company reported a net income available to common shareholders of $145 million for the first-quarter vs. $17 million for the same period a year ago. Regions said its net income from continuing operations was as $185 million, or 14 cents per share, beating analysts' estimates of 8 cents per share.
From a technical perspective, RF is bouncing strong today right off its 50-day moving average of $6.13 with monster volume. This move is quickly setting up RF for a major breakout trade. That trade will hit once RF takes out some near-term overhead resistance levels at $6.40 to $6.69 with high-volume.
Traders should now look for long-biased trades once RF manages to move or close above those levels on volume that's near or well above 25,689,200 shares. If we get that action soon, look for RF to tag $7 to $8 in the near future. I would avoid any long trades if RF fails to hold its 50-day.
Regions Financial shows up on a list of
7 Bank Stock Earnings Picks From Deutsche Bank.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.