BB&T (BBT) has rallied nicely this year from its low, set in February. Our charts and indicators are moving in the right direction and further gains could be expected in the weeks and months ahead.
In this 12-month daily chart of BBT, above, we can see a steady price rise from a February low. It takes a while for the 50-day and 200-day moving averages to have a positive slope, but the On-Balance-Volume (OBV) line turns up quickly to confirm the advance. Prices have shot up above the rising moving averages and momentum is not diverging from the price action. All in all, a positive picture.
In this three-year weekly chart of BBT, above, can see the price gains this month broke above the highs of 2014 and 2015. The 40-week moving average line turned up smartly and the On-Balance-Volume (OBV) just posted a new high. Last, the MACD oscillator in the lower panel has been bullish since July when it moved above the zero line. BBT is probably going higher to the mid-$60s, but don't be surprised if we trade sideways to digest the recent quick gains.