Short term view - US BANCORP : Pull-back
The trend has been momentarily interrupted by a correction. It approaches the resistance at $51.90, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at $46.00. The invalidation level is below $51.90.Arguments :
- The support has been shortly breached, but it is now reinstated. Prices can bounce.
- Prices are pulling back to the major resistance level (previously a support). The fall will resume afterwards.
- The moving average is capping prices.
- The gap being opened could announce a bullish change in the trend, should it remain open in the coming days.
U.S. Bancorp is a multi-state financial services holding company. Through its subsidiaries, the company provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. The company also engages in credit card services, merchant and ATM processing, mortgage banking, insurance, brokerage and leasing. The company's subsidiary, U.S. Bank National Association, is engaged in the general banking business, principally in domestic markets. The company's bank and trust subsidiaries provide a range of asset management and fiduciary services for individuals, estates, foundations, business corporations and charitable organizations.
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