Banks Are STRUGGLING. These 4 Financial Charts Look BETTER.
Q3 earnings season kicks off with the financial sector, but many major banks are entering this critical period in questionable technical shape. Dave Keller examines the XLF along with key financial stocks including Citigroup (C), BlackRock (BLK), and Berkshire Hathaway (BRK/B), highlighting why the 200-day moving average could be the most important level to watch as earnings results begin rolling in.Dave then uses the StockCharts Screener and SCTR rankings to identify four financial stocks with more constructive technical setups: Robinhood (HOOD), Visa (V), MetLife (MET), and Reinsurance Group of America (RGA). Along the way, he demonstrates how moving averages, RSI, relative strength, and price alerts can help investors distinguish between stocks testing support and those already showing signs of renewed accumulation.
LINKS
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Chapters
00:00 Banks kick off earnings season
01:56 Reading the XLF
02:34 Where the trend broke
03:49 Oversold, but holding the 200 day
05:09 The sector breadth widget
06:09 Only 4 of 11 sectors up
07:45 Citigroup: capped at 140
09:03 Moving average limbo
10:02 Setting breakout and breakdown alerts
11:59 BlackRock: RSI dead at 50
12:58 Berkshire: coiling
14:10 Screening for strength
16:20 Down to 15 names
17:05 Robinhood: the 50 day pullback
18:55 Visa: back above the 50
20:26 Why the banks missed the cut
20:52 MetLife: stuck at $100
22:27 RGA: the breakout MetLife needs
23:52 Using the earnings calendar
❗️DISCLAIMER
Past performance is not indicative of future results. Neither the Show Participants
nor StockCharts.com guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed on the show.
Strategies or investments discussed may fluctuate in price or value.
Investments or strategies mentioned in this show may not be suitable for you and
you should make your own independent decision regarding them. This material
does not take into account your particular investment objectives, financial situation
or needs and is not intended as recommendations appropriate for you.
You should strongly consider seeking advice from your own investment advisor
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