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Bank Stocks: Bullish breakout. Strong long-term Buy Opportunity.BKX (Nasdaq bank index) has just broken above the Lower High trend line (dashed lines) of the 1W bearish (pull back) leg within the greater pattern of the multi year Channel Up since 2012. The technicals have turned bullish on 1W (RSI = 59.797, MACD = 1.140, Highs/Lows = 5.1079) and even the RSI is on identical levels with the last time a similar break out took place in 2016. We are expecting a fairly similar bullish break out on the long term towards 140.00 - 149.80 (Target Zone). ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
NASDAQ:BKXLong
by InvestingScope
RBS - Set to correct lower?Sell RBS (RBS.L) The Royal Bank of Scotland Group plc (RBS) is a banking and financial services company. The Company provides a range of products and services to personal, commercial, corporate and institutional customers, through its subsidiaries, The Royal Bank of Scotland plc and National Westminster Bank Plc (NatWest), as well as through other brands, including Ulster Bank and Coutts. Market Cap: £29.13Billion RBS appears overdone in the very short term. The shares have benefitted significantly form the rally in GBP over recent weeks with a 30%+ rally from the October lows. The shares have rallied into an unfilled gap at 247.4p, which was created on the 26th April 2019. This also corresponds with a 78.6% Fibonacci retracement level from the highs at 266.1p on the 17th April to the lows at 176.6p on 15th August 2019. The looks to be a reasonable level to take some short-term profit or initiate some speculative selling. The bearish looking candle on the daily chart adds further weight to the bearish argument. Stop: 250.5p Target 1: 232p Target 2: 217p Target 2: 197p Interested in UK Stocks? Join our free Telegram channel for up to date analysis on the best main market opportunities in the UK right now - t.me
RShort
by Investamate
SPX 500 Index, Daily Chart Analysis July 25Technical Analysis and Outlook The S&P500 index closed higher and by doing so, obsoleted the relatively weak Key Res 3016 . The higher-range closure sets the stage for a steady to higher advancement towards the Inner Index Rally 3040 , and ultimately to the Outer Index Rally 3125 (The sixth phase). Currently, there are no significant resistance levels: the downside there is established Mean Sup 2976 , and distance Key Sup marked at 2914 .
TVC:SPX
by TradingSig
2
EUR/USD, Daily Chart Analysis June 21Technical Analysis and Outlook It seems like we have a currency war. Euro Dollar sank after dovish Super Mario - Draghi comment and surged after dovish Fed chair Powell remarks. The short-term surge of the Euro Dollar trend sentiment remains semi-bullish and current rebound is producing push into Outer Currency Rally $1.1376 . The relatively weak Mean Res $1.3333 will be a showdown of this fake push towards higher prices, with aged Key Res $1.1410 looming above. On the downside, there is a Mean Res $1.1193 a distance away, while the significant Key Res $1.1330 is sitting below.
by TradingSig
RF head and shoulders or double bottom?RF broke out of its upward-sloping parallel channel after the Fed's hint that it may cut rates in July. Rate cuts are generally bearish for banking stocks. RF is now in a horizontal parallel channel. Analysts remain bullish, so I still suspect it will break upward out of the channel ahead of July 19 earnings. If it holds at the current high-volume support above 14.32, it may make a head-and-shoulders chart pattern. Otherwise look for a double bottom. On downward channel breakout below 13.70, RF is bearish. On upward channel breakout above 15.12, we have a confirmed double bottom.
NYSE:RFLong
by ChristopherCarrollSmith
Good investing opportunity on the U.S. banking sector.The KBE ETF, which tracks an equal-weighted index of U.S. banking stocks, has been rising on a very steady 1M Channel Up since the 2008 financial crisis and has recently rebounded on the latest Higher Low (RSI = 50.776, MACD = 0.640, Highs/Lows = 0.0000). This presents a good buy opportunity on banking stocks, which are expected to outperform the market in the coming years. Our long term target is 52.00 with 60.45 in extension.
AMEX:KBELong
by InvestingScope
1
Gold / US Dollar, Daily Chart Analysis Feb 15Technical Analysis and Outlook With Gold fulfilled Outer Gold Rally $1322 , Inner Gold Rally $1326 and the weak obstacle of the Key Res $1321 we are now in a position to witness an advance move towards the Next Gold Rally $1345 and possibly beyond in the near-intermediate time frame, while looking forward to addressing 2018 Yearly High $1366 , and Key Res $1258 after the current initial advancement. (For the latest market talk, please see the site 'Market Commentary' tab - TradingSig_dot_com).
FX_IDC:XAUUSD
by TradingSig
A Look At The Bigger Picture For InvestecInvestec plc is an international, specialist bank and asset manager that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa, and Australia as well as certain other countries. Investec plc is the controlling company of the majority of the group's non-Southern African operations. Technicals I have indicated the monthly structure in black and the weekly structure in pink. I expect the weekly structure to complete after either 3 or 5 waves to the downside and will be looking to trade the long from the end of both waves. Wave 5 of the weekly structure has a really good target and I will not miss the entry after a reversal confirmation.
JSE:INPLong
by Linton_White