“Trade of the Day” for Wednesday, April 29

Huntington Bancshares Incorporated (HBAN) is a $8.75 billion financial company that provides commercial, small business, consumer, and mortgage banking services.

HBAN ran into momentum issues in mid-March and again in mid-April as prices continued to attempt to push higher, while the MACD started to roll over.

Since that time, HBAN has fallen more than 5% and has seen its RSI tumble back to the 40 level, generally a nice entry spot in an uptrending stock.

Also, if the low candlebodies from mid-October and mid-January are extended, it intersects currently with the 10.50 level, or thereabouts.

Consider entry at the current price and then again at $10.50, with a closing stop at $10.25 and a target at $11.75.

— John S. Hopkins, Jr.,  Invested Central

Disclaimer: You should consider these educational charts and analysis for possible short-term trades only. We are not registered investment advisors and the Trade of the Day should not be viewed as investment advice. Accordingly, please check with your financial advisor before deciding to buy or sell any of these investment securities. Because we do not recommend holding a stock into its earnings report, please check all earnings dates on stocks featured before making a decision on whether to consider a trade. Invested Central’s staff may take long, or short positions in stocks, bonds, and other financial contracts on which they comment.