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Will FIRST HORIZON CORP breakout?

By Mill Chart

Last update: Sep 27, 2022

FIRST HORIZON CORP (NYSE:FHN) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:FHN.

FHN Daily chart on 2022-09-27

What is the technical picture of NYSE:FHN telling us.

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Taking everything into account, FHN scores 8 out of 10 in our technical rating. Although FHN is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • FHN is part of the Banks industry. There are 309 other stocks in this industry. FHN outperforms 98% of them.
  • FHN is currently trading in the upper part of its 52 week range, while the S&P500 Index is trading in the lower part of its yearly range. So FHN is doing quite good in this market.
  • When comparing the yearly performance of all stocks, we notice that FHN is one of the better performing stocks in the market, outperforming 96% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
  • In the last month FHN has a been trading in a tight range between 22.39 and 23.65.
  • Volume is considerably higher in the last couple of days.

Why is NYSE:FHN a setup?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:FHN currently has a 8 as setup rating:

FHN has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 23.38. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.14, a Stop Loss order could be placed below this zone.

Trading breakout setups.

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Every day, new breakout setups can be found on ChartMill in our Breakout analyzer.

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FIRST HORIZON CORP

NYSE:FHN (4/19/2024, 7:04:00 PM)

After market: 14.28 -0.35 (-2.39%)

14.63

+0.35 (+2.45%)

FHN News

News Image2 days ago - InvestorPlaceFHN Stock Earnings: First Horizon Beats EPS, Beats Revenue for Q1 2024

FHN stock results show that First Horizon beat analyst estimates for earnings per share and beat on revenue for the first quarter of 2024.

News Image3 days ago - First Horizon CorporationVernon Stafford and Tanya Hart recognized in Savoy Magazine's 2024 Most Influential Executives in Corporate America

/PRNewswire/ -- First Horizon Corporation, (NYSE: FHN or "First Horizon") announced that two executives, Vernon Stafford and Tanya Hart, were recognized by...

News Image4 days ago - First Horizon CorporationFirst Horizon Corporation Names Thomas Hung Chief Credit Officer, Susan Springfield Announces Retirement

/PRNewswire/ -- First Horizon Corporation (NYSE: FHN or "First Horizon") today announced that Thomas Hung, Executive Vice President, Head of Franchise Finance,...

News Image4 days ago - Market News VideoFirst Horizon's Shares Preferred Stock Series D Shares Cross 6% Yield Mark
News Image9 days ago - First Horizon CorporationMartin de Laureal Named President of First Horizon Advisors, Inc. and Head of Private Banking of First Horizon Bank

/PRNewswire/ -- First Horizon Corporation, (NYSE: FHN or "First Horizon") announced today the naming of Martin de Laureal as President of First Horizon...

News Image11 days ago - First Horizon CorporationFirst Horizon Bank Announces First-of-its-Kind Collaboration with The Home Edit

/PRNewswire/ -- First Horizon Corporation (NYSE: FHN or "First Horizon") is proud to announce a collaboration with The Home Edit (THE), a lifestyle...

News Image19 days ago - First Horizon CorporationFirst Horizon Corporation Announces Redemption of Series D Preferred Stock and Corresponding Series D Depositary Shares

/PRNewswire/ -- First Horizon Corporation (NYSE: FHN) today announced that on May 1, 2024 (the "Redemption Date"), it will redeem all outstanding shares of its...

News Image23 days ago - First Horizon CorporationFirst Horizon Corporation to Announce First Quarter Financial Results on April 17, 2024

/PRNewswire/ -- First Horizon Corporation (NYSE:FHN) plans to announce first quarter financial results on April 17, 2024. The news release and supplemental...

News Image25 days ago - First Horizon CorporationFirst Horizon Foundation Celebrates the Company's 160th Anniversary with $1.6 Million in Donations

/PRNewswire/ -- In honor of First Horizon Corp.'s 160th anniversary, First Horizon Foundation today announced the Grants for Good campaign, providing $1.6...

News Imagea month ago - First Horizon CorporationFirst Horizon Bank Survey Reveals a New Era of Women's Financial Empowerment

/PRNewswire/ -- First Horizon Corp. (NYSE: FHN or "First Horizon") today announced the results of a comprehensive survey exploring the financial confidence and...

News Imagea month ago - BloombergTD’s Masrani Takes Pay Cut Over Anti-Money-Laundering Probe

Toronto-Dominion Bank Chief Executive Officer Bharat Masrani took a pay cut last year over the lender’s scuttled acquisition of First Horizon Corp. and the US probe it faces over anti-money-laundering controls.

News Imagea month ago - First Horizon CorporationTracy Bell honored as Women Who Shape the State 2024

/PRNewswire/ -- First Horizon Corporation, (NYSE: FHN or "First Horizon") announced that Tracy Bell, Director of Equity Investments Strategies, was honored as...

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