A significant breakout of a Rising Wedge pattern in ZIONS BANCORP has been observed. This pattern often indicates a potential bearish continuation of the existing trend. The burst in volume during the breakout suggests increased selling interest at the current price levels, which further reinforces the negative outlook for security.  Moreover, the price of ZIONS BANCORP is trading below the major 

Exponential Moving Averages (EMA's), indicate a sustained downtrend. This alignment with the EMA's adds more confidence to the bearish scenario.  Additionally, the breakout in the Relative Strength Index (RSI) supports the negative move, confirming the strength of the current trend.

Rising Wedge

Jul 31 2023