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Bankfailure

FRBK- 1st Bank Failure of 2024No special indicators here. FRBK closed by regulators on 4-26-2024. The company was founded on November 16, 1987, and is headquartered in Philadelphia, PA. This is not to be confused with the other regional bank closed last year about the same approx. time FRC- First Republic Bank which failed and subsequently bought by JP Morgan on April 26, 2023. Official statement released May 1, 2023. www.fdic.gov How many more set to fail? I have also noticed consolidation of banks taking place and notifications going out indicating they will not be FDIC insured after they consolidations- making deposits in this climate more risky to customers. FRBK Source: www.cnn.com
NYSE:FRC
by Moorsc0de
Is it time to short the big banks with BNKD again?As shown on the 4H chart BNKD, a triple leveraged ETF inverse to big bank stocks has had ups and downs reflecting the chaos in the banking system with some failures and federal support or takeovers. Online banks are thriving while some smaller regional banks are challenged with a portfolio of bonds and treasuries bearing low yields. Price is presently at the same level as the high of December 22 and low of April 23. This level is acting as support also allowing for a narrow stop loss for a long trade. Price is below the high volume area of the long term volume profile which equates to the fair value area. Accordingly, BNKD is oversold and discounted below fair value into the undervalued range. It is below the mean anchored VWAP line and in the area of one standard deviation below that line. The zero-lag MACD shows an early impending cross of the lines under the histogram another suggestion of a reversal I will take a long trade with the stop loss directly below the horizontal support line by $ 0.25 while the first target just below the confluence of the POC line and the mean VWAP @ $.13.90 while the final target is $ 15.60 near the top of the high volume area. I see this as a safe long trade with a high R:R and profit potential.
BLong
by AwesomeAvani