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F.N.B. Corporation (FNB) is also a Southeastern regional bank which is considerably smaller than Regions Financial (RF). The daily chart for FNB completed its top with a high of $12.56 in January and looks like it could bottom well ahead of other regional banks. FNB bottomed in September ahead of most regional banks, making a low of $7.87.

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There is next good support in the $11-$11.32 area, line a, with the 38.2% support at $10.80. The 50% support is at $10.20 with the key 61.8% support at $9.65. The uptrend in the RS line was broken on January 25 and now shows a pattern of lower lows and lower highs.

The daily OBV is holding up better, as it is still above its weighted moving average and is close to its recent highs. There is much stronger support at line c. The weekly OBV (not shown) is well above its rising weighted moving average.

Strategy for F.N.B. Corporation (FNB): Go 50% long at $11.28 and 50% long at $10.76 with a stop at $10.46 (risk of approx. 5%).

I hope this analysis will encourage you to keep track of those market-leading sectors, industry groups, and stocks, even if you have not participated in their recent strength. It is possible that we will see even higher levels before we get a deeper correction.

If instead the SPDR Homebuilders ETF (XHB) and SPDR S&P Bank ETF (KBE) make further new rally highs, then additional analysis will be done based on the new highs.

It is not so much these two examples that I hope you will focus on, but the actual process that I want to emphasize. By developing a strategy or game plan in advance, it is then easy to set up price alerts that will let you know when prices get close to your target zones. This will give you the opportunity to update your analysis and place actual orders so you are less likely to miss the next move up in a market-leading sector.