Fundamental Friday (BAC): Gallacher's Fundamentals: 1. Select historically "Cheap" or "expensive" markets. - BAC is within uncertainty range level 1. - Financial sector is cheap, relative to tech. BAC has an 18.19 PE ratio vs 585 PE ratio of TSLA. - BAC is neither cheap nor expensive relative to rivals in the financial sector (JPM, GS, by RSI). 2. Develop a...
Following a 2 month decline in bank stocks, FINANCE index almost touched oversold on the RSI yesterday but bounced back and broke out of its downtrend line today. Expect banks to drive KLCI rebound after Hari Raya break and offset projected decline in glove stocks.
Banknifty price structure still looks weak to me, and we could see another 1000 points fall in the coming week. Immediate support I see is around 31600 levels. Immediate resistance is around 33200. Expecting High Volatility in the coming week, plan your trades carefully.
Correction ended in banks look for new highs and 10 yr to see 1.81/1.83
WAVE STRUCTURE A ALT COUNT .We have just ended and ABC RALLY
With a bear flag i can see banks retracing to fill some gaps. Then a new leg up will emerge
PRICE GO UP AND NEXT PROFIT TAKEING AREA IS 1655 THEN MAYBE PRICE DOWN SOME AND RETRACE.NEXT IS NEXT
there is not so big deal with bank section on stocks. market is now over extended high. so market gives some retrace for grab some liquidity. atleast area is 582 and max is 527. then price go higher max area 725. stay with me for further update
32629 is now support ..if price sustains above . Day high will be broken . You can buy future for 100- 150 points upmove . Safe can sell otm puts .
32367 is an important level . Banknifty can reach 32800. I bought 32500 Ce at 239 .
Broke through (yellow) line of resistance and set a new high at 30.52. Will look to play something after another breakout of that price level (30.52) to catch newer highs.
Just my opinon , Do your research and trade carefully.
CitiGroup Bear Flagging hard. Very high volume selling. I think there's more to this story than the public knows yet. All banks having a terrible day despite beating earnings expectations. I just don't trust the CLO exposure that these banks have. Citigroup may be in for a world of hurt soon if they overleveraged themselves. If Citi goes under we could see...
If you're worried that growth stocks (the tech and now healthcare stocks) are just ridiculously valued, then perhaps you should think about Canadian bank stocks as a potential cushion against a potential market correction. Earnings beat analyst expectations. Yields are in excess of 4%. Loan loss provisions will gradually find their way back into bank earnings...
The banks have been smashed since the pandemic started but apparently one of them is preparing to fly higher. That is ASX:NAB bank, from the technical analysis it is showing a promising chart pattern. From the chart, we can draw a cup and handle formation that has been forming for weeks. Besides the stock has crossed its 200MA after being glued to it for almost 2...
Chart technical target already processed. In my opinion, wave targets should be searched lower. 1. either massive bank failure ahead with bail-ins or 2. massive rescue packages from the ECB. I bet that ECB will buy bank shares massively and issues uncovered blank checks within the EURO system. What comes to my mind? I have to buy more gold and silver shares...