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NYCB could bounce back from the inflation report LONG
Long
NYCB could bounce back from the inflation report LONG
By AwesomeAvani
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Updated
Apr 12
3
Apr 11
NYCB on the 30 minute chart had an abrupt reaction to the inflation report. This is not a
surprise. Many traders and investors know that banks make more money when the prime rate
is lower because they do not need to pay much on savings accounts and deposit certificates.
NYCB has been challenged and is more volatile than the average bank stock being a penny
stock with hard fundamental issues. NYCB has reversed and the relative volume indicator
shows the flip. Price has climbed back into the lower part of the high volume area of the
profile which shows some bullish momentum.
I see this as a risky long trade but still take it for the quick 6-7% upside back to the POC line of
the volume profile. The stop loss will be the low pivot of the prior trading session.
Apr 11
Note
Chart with price volume candles showing instant prive volume trend along with
two trend indicators also showing a candlestick reversal pattern.
Apr 11
Note
Apr 11
Trade active
Stop loss raised to above break-even due move 3% higher. This is now a risk free trade.
Apr 12
Note
Price moved up 1.3% today. Looking for more and patient.
banksector
NYCB
pennystock
regionalbanks
smallbanks
Value
Volatility
volatilitytrading
Volume
AwesomeAvani
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