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By all indication the equal weighted banking KBE ETF if a good investment right now. There is a change in sentiment towards the sector and is seen as a safe place to invest before volatility returns to the equity markets. Technical indicators on the chart are all positive and give us confidence to invest.
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...
SHORT ANY RALLY OF THE BANKS ETF INTO THE SELL ZONE
KBE set to break prior high support this week. Testing support right now.
With many calling for a break down in banking stocks I see the possibility of further upside if this correction does in fact end soon. As ever, time will tell.
50-DMA has topped out and is now sloping downwards. The rising trend line was breached in mid-May. An attempt to take back the rising trend line failed. We also have a bearish breakdown of the triangle formation. The bearish price chart suggests bank stocks could lose altitude in the coming days. This goes will with the flattening of the treasury yield curve.
Today's 1-Day OHLC Volatility for KBE is 22.8. The 20-day average is 16.6, and the 52-week average is 21.2. The 1-Day OHLC Volatility for SPY is 4.3, while the average over the last 20 days is 9.5, and for the last 52 weeks is 12.0. Implied Volatility: The current 30-Day Implied Volatility (IV30) is 18.8, and has moved -6.9% from yesterday. Its IV Ranking...
Previous $kbe chart a confirm sell signal on Monthly, Now Daily chart confirm