Raymond James Financial Jumps 3.71% on Heavy Volume Extending 3-Day Rally to 4.68%

Raymond James Financial (RJF) concluded the latest session at $166.84, rising 3.71% and marking its third consecutive daily gain with a cumulative 4.68% advance over this period. This upward momentum occurred alongside above-average trading volume of 2.20 million shares, suggesting conviction behind the move.
Candlestick Theory
Recent sessions exhibit a strong bullish candlestick pattern, with the most recent candle showing a long real body (open: $159.23, close: $166.84) and minimal upper wick, indicating sustained buying pressure throughout the session. This follows a three-white-soldier formation, reinforcing bullish sentiment. Key resistance emerges near the session’s high of $167.60, while support is established at the recent swing low of $156.15 (2025-07-16). A secondary support zone exists near $153.23 (2025-06-27 low), aligning with volume accumulation points.
Moving Average Theory
The 50-day MA (approximately $156.80) maintains an upward slope above the 100-day MA (~$152.30) and 200-day MA (~$145.50), confirming a bullish intermediate to long-term trend. The current price trades well above all three moving averages, indicating robust momentum. Golden Cross events (50-day crossing above 200-day in Q1 2025) remain intact, though extended deviations may invite short-term mean reversion.
MACD & KDJ Indicators
MACD (12,26,9) shows a widening positive histogram, signaling accelerating bullish momentum as the MACD line sustains above its signal line. KDJ (14,3,3) registers near 80 for both %K and %D, approaching overbought territory. While these concur on near-term strength, KDJ’s proximity to overbought levels warrants caution for potential consolidation. No bearish divergence is observed between the indicators and price action.
Bollinger Bands
Price breached the upper Bollinger Band (20-period, 2σ) during the latest session, typically suggesting overextension. Bandwidth expanded sharply (volatility increase), supporting continuation patterns historically. However, closes above the upper band often precede short-term pullbacks to the midline ($161.40), which coincides with recent breakout support.
Volume-Price Relationship
The rally’s credibility is reinforced by rising volume on up days, notably the 3.71% gain occurring on 2.20 million shares—34% above the 30-day average volume. Distribution days (high-volume declines) have been absent during the ascent, indicating controlled profit-taking. Volume divergence is absent, though sustained new highs require ongoing volume confirmation.
Relative Strength Index (RSI)
The 14-day RSI (68.5) approaches overbought territory (>70) but remains below extreme levels. While this indicates strengthening momentum, its position warrants monitoring for potential exhaustion. Notably, RSI has not yet aligned with prior overbought peaks coinciding with intermediate tops (e.g., April 2025), reducing immediate reversal probability.
Fibonacci Retracement
Using the significant rally from the $122.72 trough (2024-10-03) to the $167.60 peak (2025-07-24), key retracement levels provide downside targets: 23.6% ($157.00), 38.2% ($150.45), and 50% ($145.16). The 23.6% level converges with the recent swing low ($156.15) and 50-day MA ($156.80), reinforcing it as critical support.
Confluence and Divergence
Confluence appears at $156.80–$157.00, where the 50-day MA, Fibonacci 23.6% retracement, and recent support align, creating a high-probability bounce zone should retracements occur. Divergence remains limited, though MACD/RSI momentum could weaken if price stalls near $167.60 resistance without volume expansion. The current technical structure suggests pullbacks may present buying opportunities within the broader uptrend, provided $156 support holds.