A key Rectangle has formed on FITB. Analyze the breakout level now.
Sideways movement between parallel supports.
Gradual reversal from bearish to bullish.
Consolidation. Can break either way.
Bullish continuation pattern.
FITB is showing interesting structural developments at $48.78. With a last close of $48.78, volatility remains active (-0.15%). Price action has carved out a classic Rounding Bottom. Volume is average (0.28x avg) with moderate trend strength (17.7). A potential breakout level is identified at $51.86, targeting $61.16 with support near $47.21 (R:R 2.0).
What is your outlook on FITB?