The beginning of March was the start of the precipitous drop for $KRE and the regional banks.
Many have speculated however that we have not seen the end of regional banks as an institution and so eyes have been peeled for a possible rebound. GoNoGo Trend has flagged a “Go” trend on yesterday’s bar and so the weight of the evidence suggests the technical environment has reversed. This comes after GoNoGo Oscillator has been above and finding support at the zero line for a couple of weeks. Now, with momentum on the side of the fresh “Go” trend, we will look for price to climb above the resistance from March and April.
