U.S. Bancorp, a financial services holding company, provides a range
of financial services in the United States. Its services include lending
and depository services, cash management, capital market, and trust and
investment management services. The company also engages in credit card
services, merchant and ATM processing, mortgage banking, insurance,
brokerage, and leasing. Its lending services include traditional credit
products, as well as credit card services, leasing, financing and
import/export trade, asset-backed lending, agricultural finance, and
other products. The company's depository services comprise checking
accounts, savings accounts, and time certificate contracts. It also
offers ancillary services, such as capital market, treasury management,
and receivable lock-box collection services to corporate customers; and a
range of asset management and fiduciary services for individuals,
estates, foundations, business corporations, and charitable
organizations. In addition, the company provides Visa corporate and
purchasing card services, and corporate trust services.
To review Bancorp's stock, please take a look at the 1-year chart of USB (U.S. Bancorp) below with my added notations:
USB has been trading mostly sideways for the last 3 or 4 months. Over
that period of time, the stock has formed a resistance area around
$37.50 (red), In addition, the stock has also created a strong level of
support at $35.50 (blue). At some point the stock will have to break
one of those two levels.
The Tale of the Tape: USB has identifiable levels of
support and resistance. The possible long positions on the stock would
be either on a pullback to $35.50, or on a solid close above $37.50. The
ideal short opportunities would be on a break below $35.50.
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