First Citizens Bancshares Rises 3.14% to $1,788.09 Amid Double-Bottom Rebound Signals

First Citizens Bancshares (FCNCA) gained 3.14% in the latest session, extending its advance to two consecutive days with a cumulative 5.07% increase, closing at $1,788.09. This rebound follows a prior downturn, signaling potential near-term stabilization after testing critical support levels. The analysis below evaluates key technical perspectives based on the one-year price history.
Candlestick Theory
Recent sessions reveal a potential double-bottom formation near the $1,700 psychological support level, with lows at $1,699.27 (October 10) and $1,714.58 (October 14). The subsequent two-day rally produced bullish candles with expanding real bodies, closing near session highs—suggesting accumulation pressure. A decisive break above $1,795 (recent swing high) would reinforce reversal potential, while the $1,900–$1,920 zone (September peaks) poses formidable resistance. Key support remains $1,700, with violation risking a retest of the $1,650–$1,670 April consolidation area.
Moving Average Theory
The 50-day, 100-day, and 200-day moving averages exhibit a bearish alignment (50-day < 100-day < 200-day), confirming a sustained downtrend. Current price ($1,788) trades below all three averages—approximately 50-day ~$1,830, 100-day ~$1,880, and 200-day ~$1,925—highlighting persistent overhead supply. A sustained recovery would require conquering the 50-day MA, though the descending long-term averages underscore entrenched bearish momentum.
MACD & KDJ Indicators
MACD shows tentative signs of bullish convergence as the histogram moderates near oversold territory, though it remains below its signal line. KDJ’s %K line has hooked upward from oversold (<20) levels, crossing above %D—a short-term positive divergence. This alignment suggests waning downward momentum and possible trend fatigue. However, both oscillators need confirmation through decisive bullish crossovers to validate reversal prospects.
Bollinger Bands
Price rebounded from the lower Bollinger Band ($1,715), coinciding with the $1,700 support. Bandwidth expanded during the October decline, reflecting elevated volatility, but the recent rally is compressing the bands. A close above the 20-day moving average (mid-band, ~$1,830) could signal a shift toward bullish momentum, while a rejection near $1,795 may renew contraction phase.
Volume-Price Relationship
The rebound’s volume profile lacks conviction; the two-day rally averaged 109,370 shares, notably lower than the 133,330 shares traded during the October 10 sell-off. This divergence suggests weak participation in the recovery, raising sustainability concerns. For the advance to extend, volume expansion above the 20-day average (~124,000 shares) on further gains is necessary to confirm buyer commitment.
Relative Strength Index (RSI)
The 14-day RSI reads 49—neutral but improving from oversold territory (<30) during the October lows. While not yet signaling overbought conditions, the upward inflection from oversold aligns with near-term bullish momentum. However, RSI must exceed 55 to confirm strengthening upside momentum, given its position below the midpoint.
Fibonacci Retracement
Applying Fib levels to the January–April decline (high: $2,412.93; low: $1,473.62) shows the recent rebound stalled near the 23.6% level ($1,695). Immediate resistance aligns with the 38.2% retracement ($1,832), while the 50% level ($1,943) marks the next hurdle. The double-bottom bounce from $1,700 demonstrates confluence with the 23.6% support, reinforcing its technical significance.
Confluence and Divergence
Convergence appears at $1,700, supported by double-bottom candlestick signals, Bollinger Band rejection, and Fibonacci retracement. Divergence emerges between improving momentum oscillators (MACD/KDJ) and lagging volume—highlighting fragility in the recovery. The bearish moving average stack contrasts with near-term bullish price action, warranting caution until the 50-day MA ($1,830) is reclaimed. Overall, while oversold conditions may fuel additional near-term gains, sustained reversal requires decisive breaks above $1,832 with volume confirmation to overcome prevailing bearish momentum.