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AwesomeAvani
Jul 20, 2023 3:00 AM

BNKD Is the banking crisis still simmering? Long

AMEX:BNKD120
MicroSectors U.S. Big Banks Index -3X Inverse Leveraged ETNsArca

Description

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Recently, a report posted on the Social Science Research Network found that 186 banks in the

United States are at risk of failure or collapse due to rising interest rates and a high proportion

of uninsured deposits.Jun 14, 2023


BNKD, the banking bearish and leveraged ETF has dropped in trend down in the past month

albeit with some upgoing corrections along the way. GS, JPM and MS are all uptrending as an

with DPST high jumping in the past day. On the 2H chart, BNKD is in deep oversold

undervalued territory at or below more than two standard deviations below the mean VWAP.

However:

(1) the mass index indicator popped into the reversal zone and then dropped below the trigger

level of 26.5. I see this as a mathematical prediction of a soon impending reversal.

(2) the dual time frame RSI shows the lower TF blue line bounced from the lows and the higher

TF is flat not showing further weakness. I consider this a subtle bullish divergence.

(3) Importantly the red line in the sand here is the POC line of the visible range volume profile.

Price is presently supported by that line showing buyers taking a defensive stand at that level.

Overall, I will take a long reversal trade here targeting the middle of the first upper deviation

band at 12.0 with a stop loss at 8.88. This is a high potential reward of 35% for a small risk

taken. The reward on an options trade would potentially be well over 100%. I will zoom into

a 15-30 minute time frame to select a pivot low to make a more precise entry.

Trade active

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A small move up but not enough to raise the stop-loss Holding full position.
OscillatorsMoving AveragesVolumeBNKDBNKUDPSTKREKBEbankingsectorreversalpatternreversaltrading
Comments
AwesomeAvani
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portersnextwarning.com/reset-a?_ef_transaction_id=&affid=46&oid=28&sub5=e19523
AwesomeAvani
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dailyhodl.com/2023/07/22/us-banks-are-abruptly-freezing-accounts-halting-withdrawals-without-warning-or-explanation-report/
AwesomeAvani
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Message from Weiss Ratings
Editorial Note: Dr. Weiss has been talking about the banking crisis for months now, and with the collapse of multiple banks, now is the time to listen up if you have money in any US bank. While the government may cover banks' customers, that is not a sustainable solution for what could be an epidemic of bank collapses. Watch this video closely.

Dear Subscriber,

During and after the Great Financial Crisis of 2008, 485 U.S. banks went under.

We warned about 484 — an accuracy rate of 99.8%

Now, I have a new warning.

But this time, it’s not just about a few hundred banks.

It’s about nearly every single bank in America, whether large or small.

A veritable banking nightmare!

See what it is here.

Good luck and God bless!

Signature

Martin D. Weiss, PhD
Weiss Ratings Founder
AwesomeAvani
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"Food for thought" bloomberg.com/opinion/articles/2023-07-17/banking-crisis-fed-liquidity-gave-markets-back-their-mojo-but-is-that-all
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