Even though Barron's included a simple line chart of Fifth Third Bancorp (FITB) in their weekend story on the Midwestern lender, they forgot to pay attention to the trend.
FITB has been under pressure after topping out in June-August, see the chart above. Prices have not mounted any meaningful upside attempt despite a rising On-Balance-Volume (OBV) line and a bullish divergence between the price action and the momentum study. Prices remain below the declining 50-day simple moving average.
This longer-term view, above, of FITB is pretty neutral. Prices are below the 40-week or 200-day moving average. The OBV line is going nowhere fast and prices are not that oversold to consider buying aggressively. The short- and longer-term view of FITB combine to suggest a $17 to $20 trading range with a likely downward slant.