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Banks

Commonwealth Bank Long Setup After seeing the Banks in a major consolidation for almost 5 years now it seemed like an appropriate time to back them based on the long term bull channel with strong support levels. No current material Take Profit in mind with discounted shares bought for long term dividend reinvestment plans being the goal for this one. Based on where we are in the channel it probably is still a relatively discounted period if that next horizontal support does not cause a turn around. Do your own research! Happy Trading
ASX:CBA
by ichtusb
Canadian banks offer high-yielding cushion in a correction.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 as the economy recovers next year. The steepening yield curve also bodes well for future earnings growth.
NYSE:BMOLong
by malvinspooner
Is $62 in the cards? #stocksBanks continue to surge pricing in a recovery. The Model gave us great trade location so now we are just playing with house money. We think 62 is in the cards which would be a completion of the wave formation. Ingenuity Trading Model is an algorithm used in- Stock, Forex, Futures, and Crypto markets. The model is a Geometric Markov Model : In probability theory, a Markov model is a stochastic model used to predict randomly changing systems. Markov Models are used in all aspects of life from Google search to daily weather forecast. The randomly changing systems we focus on are the equity, futures, and forex markets. The geometric element of the model is the fractal sine wave structure you can find on any chart you look at across any market and across all time dimensions. Our model focuses on the current sine wave formation (current state)- geometric price formation along with its volume and volatility over a given time period and using that information to predict the future state- future price movement. For questions or more information feel free to contact me in the comment section or via private chat
NYSE:C
by IngenuityTrading
ASX:NAB Cup and Handle formation ?? 🚨🚨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 weeks and suddenly jumped on a higher volume. These factors allow us to speculate that this stock is poised to go play in the bulls league. Although RSI is a bit overbought but from other technicals this stock looks great and it can be lucrative for next few days if not months. I will keep you updated of all the movements this stock play. Stay safe and have profitable trades. XTF
ASX:NABLong
by xtf_ze_trader
Financials in trouble200sma has been a strong resistance since the March drop. The red circles show 4 times trying to get to it. Placing fibonacci retracement lines shows confluence with a support level (green rectangle from late June --> early July) The 20sma crossed below the 50sma on September 27th. (Bearish signal trend model) Also, if we close at the current price, we are getting a bearish engulfing candle. I would feel comfortable getting in around $22.7, being fundamentally bullish on the sector.
AMEX:XLF
by dorfmanmaster
RidetheMacro| AUDUSD Crawls downwards 📉AUDUSD Key Points The Focus will be on the Australian Dollar this week with the Reserve Bank of Australia (RBA) expected to make a major decision on its cash rate. Additionally, the government will release its Annual Budget. As of Friday’s close, market consensus was evenly split on whether the RBA will adjust the cash rate in October or November. A 50/50 consensus usually means no rate cut. Rather than another full 25 basis point cut, it seems most market participants are anticipating some version of “micro easing” such as lowering the official cash rate from 25 bps to 10 bps this month or next. “Consequently, financial markets are now anticipating a roughly 50% chance the RBA will cut the official cash rate before the end of the year,” according to Brian Reid, Treasurer of Newcastle Permanent. For weeks, investors had been pricing a rate cut to 0.10%, based on forecasting from Westpac. But that changed last week with Westpac economists now forecasting November instead, at the November 3 meeting. until the Next time. Ridethemacro
Short
by Ridethemacro