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ChristopherCarrollSmith
Oct 16, 2019 2:55 PM

Look to grab the bounce on Ally Financial Long

Ally Financial Inc.NYSE

Description

Quite possibly Ally Financial will bounce from its current price after dropping on an earnings beat. However, I am looking for it to bounce from the high-volume node at 30.01 tomorrow, and I've got a buy order set at that price. Ally has an attractive P/E of 8 and has a 95/100 valuation score from S&P Capital IQ. It faces some political risk from a possible third interest rate cut this year, but should perform well in the long term.
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