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SVB Crashing and burning to $33 - Here's why SVB Financial group has had a major Inverse Cup and Handle forming over the last few years. Today it broke below the brim level and has confirmed strong downside to come. Price<200 - Bearish RSI<50 - Bearish Target $33 WHAT HAPPENED? Silicon Valley Bank's parent company, SVB Financial Group, saw a 60% drop in its shares after launching a $2.25 billion stock sale to recover from declining deposits from tech start-ups. They admitted to losing about $1.8 billion on the sale of securities, which led to a huge loss in their market capitalization. This event also caused other financial stocks to decrease in value, highlighting how rising interest rates can affect net interest income at other banks. On Thursday, the four largest US banks lost a total of $52.4 billion in market value.
SShort
by Timonrosso
SIVB Meltdown- Canary in the Coal mind?Today we saw a systemic risk in the financial sector. The regional banks were hit extremally hard and as a result the Major banks saw sell side liquidation. Where there's one cockroach, there's usually another. Risk in the banking sector is the worst type of risk investors can ask for. Credit liquidity crisis is not something to mess around with. SIVB looks like its in serious trouble potentially being exposed to fraudulent crypto loans that will likely default as well as failed speculative startups in the tech and health care space.
S
by Trading-Capital
Any chance for a $SIVB Revival?No surprise we saw a huge knife down that met with hard resistance at ~$82.77. This price point acted as a huge support back in 2016. Despite the NFP numbers, there should be a relief bounce for the stock, but any follow-through to break that resistance during the trading day could introduce a retest of the monthly high in 2000. You can be certain that Silicon Valley Bank is at risk of losing capital to the many companies that will be looking to withdraw (keep in mind that the struggling tech market means fewer deposits in SVB). I have no specific positions on $SIVB and see a very long road to recovery here. Their 2.3B firesale in new shares would cause extreme dilution to the stock, which was needed from their horrible positioning just before interest rates increased with their $21 billion bond portfolio having a yield of 1.79% and a duration of 3.6 years compared to the 3-year treasury yield of 4.71%. What happened today is a harbinger of what's to come for the entire market.
S
by theapearmy
3
Standard Bank almost ready for a good buy to R200 or Goodbye Cup and Handle has clearly formed on Standard Bank. I don't like this Bearish engulfing candle that formed. The price didn't break above the brim level so we will have to be a bit patient before buying. We then have other bullish signs in the meantime. 7>21>200 - Moving Averages RSI>50 - Target R200.00 CONCERNS: Obviously we are not going to buy until we get the break. This can either go up or can crash heavily. All we can do is wait and act accordingly.
JSE:SBKLong
by Timonrosso
Bank of America (BAC) A great potential for the mid-term Bank of America is one of the largest banks in the United States, with more than 4,000 branches and 16,000 ATMs located across the country. In 2008-2009, the bank was among the many banks that required a government bailout during the financial crisis. Despite these controversies, Bank of America remains a major force in the banking industry and continues to be a trusted financial institution for millions of customers. ⛓Technical analysis We may see a drop of up to 5% in the coming weeks before the recovery that should take place in the first 2 quarters of the year. Trade safe!
NYSE:BACLong
by pridefulDove59918