$KRE; more pain ahead for regional banks?

$KRE; more pain ahead for regional banks?


April 2023


Alex Cole

$KRE has been consolidating mostly sideways since the precipitous drop in early March.

During this time price seems to have found some support but we see a series of decreasing highs. Price now looks to be threatening the lower bound of a descending triangle. This price action has seen GoNoGo Oscillator to slowly climb back to test the zero line from below.  However, as GoNoGo Trend shows the "NoGo" strengthen to paint strong purple bars of late, GoNoGo Oscillator has been soundly rejected by the zero line.  This has caused a NoGo Trend Continuation Icon (red circle) to appear above the price bar, telling us that momentum is now resurgent in the direction of the "NoGo" trend.  We will look to see if this gives price the push it needs to set a new low.