hph4045

Moelis - $37 - $35 downside scenario by September 2020

Short
NYSE:MC   Moelis & Company
I am seeing a better inflection point in the banks, who I think have some proposed upside with the recent trends in the Federal System. The equity has been beaten down pretty hard YTD and the ATR is signaling a downtrend into a consolidation phase. I believe that we could see another 16% of downside given the macro tailwinds shaking up the market right now. However, I believe this sector is going to be one of the first to reach inflection in the US markets. I would say $35 would be a max downside and $37 a realistic target for entry in q3 2022.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.