The chart is a 3 box reversal Point and Figure chart.
The chart is based on daily high and daily low prices.
The chart is a scaled per the 'Traditional/Chartcraft' definitions.
Two possible resistance prices and three possible support prices are
shown, as well as the support/resistance lines.
A 'resistance' or 'support' point is a price where an issue's upward
or downward price movement may 'stall'. The ultimate result of the 'stall'
may be either a continuation or a reversal of price movement, depending
on whether there are more or less sellers than buyers at the specific price
HBAN is trading within an overall bullish trading channel. Currently,
HBAN has given a third consecutive p&f 'BUY' signal. HBAN is currently
hitting resistance point R1 ($37). The current vertical count price objective
is $37. If R1 is broken on significant volume then R2 will be the next
resistance area. R2 is at $46. The V2 secondary vertical price objective
is $45 and the H2 horizontal price objective is at $46. If R1 holds, then
HBAN may trade down to S1 which has been a 'firm' intermediate bullish
support line since August 1992. Support may also be seen at points
S2 or S3. Support point S3 must hold to preserve the overall bullish