2024-01-22 11:10:26 ET
Summary
- U.S. Bancorp represents a buy the dip opportunity based on price action, momentum, and relative strength.
- USB has rallied off its low, recaptured its rising 30-week EMA, and put in a series of higher highs and higher lows.
- Momentum is bullish, indicated by the PPO line being above the center line and above the signal line. Relative strength is also trending higher.
Last week, the SP 500 index closed at a new all-time high. Also last week, I saw an article on SeekingAlpha.com about buying the dip . Well, U.S. Bancorp ( USB ) represents a buy the dip idea. This article will outline why I think USB is an interesting idea based on price action, momentum, and relative strength. I will also outline a risk management strategy if you choose to buy USB....
Read the full article on Seeking Alpha
For further details see:
U.S. Bancorp: Buy The Dip Opportunity (Technical Analysis)