Breaking Down: Prosperity Bancshares Inc (NYSE:PB) Stock Drop Below Support — Technicals Hit Extreme Weakness
Prosperity Bancshares Inc technical rating as of
(PB Price of Stock at Publication: $63.52)
Breaking Down: Prosperity Bancshares Inc (NYSE:PB) has hit extreme technical weakness — watch the stochastics and technical oscillators for any kind of momentum signals if you are looking for a turnaround.
The company has broken down to a one bull momentum rating — that is extreme weakness and through technical support.
It may be tempting to view the price as over sold, making this a potential entry for a long position, but as of this moment, the stock price is moving
sharply lower, it has cut through technical support and the bears are leading the charge until the stock can find a bid.
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PB is down -5.5% over the last three months and down -15.3% over the last six months. The stock price is up +24.3% over the last year. The current stock price is $63.52.
The technical rating goes from a rating of one, the weakest upside technical, to a rating of five,
the highest upside technical. This is strictly focusing on price and technical — that means we focus on real-time stock price movement and then position it relative to the simple moving averages. To make the technical rating meaningful, the moving averages are also compared to each other.
If you’re looking for the simplest version of this, here it is — when the short-term moving averages are above the…