Maybe setting up for a right shoulder like it did back in 2007. I don't see how banks can outperform now.. housing is slowing down.. the fed's have distorted the markets with their rate schemes. Even customers don't even know what to do but complain, lose debit cards, and try to dispute fees. That's today's banking. I don't see what would cause to break to record...
RSI looks terribly consistent with no confirmed supports... just a bubble going up and down without any form or structure.
CMF is negative and in black.
Stochastic is armed for Knock Out.
- this bank holds major mortgages of rich ppl
- rich houses are going DOWN across multiple continents as we speak. Why ? their owners have no more liquidity to pay for...
Shares of TD appear to be pulling back to test a breakout level at ~$53.50, which coincides with a rising channel bottom. I'm a buyer at that level and will be targeting ~$66 on the upside, or +23% from here. In a rising rate environment and given the technical setup, I expect shares to outperform over the next several months.
- lots of upper wicks on daily is smart money selling into strength
- bollinger bands tightening means move is coming soon
- retest of red breakout line before moving up higher (see attached chart)
Just a note - the better trade would be to try to grab some shorts once price hits the lower line of the blue channel.
TD Bank is same as AMTD. Td bought SCOTTRADE BANK but it will not help them to sustain as the stock already started to fall from 2014 April. The red line will act as a resistance. And the green line as support.