Union Bank 15 minutes chartUnion bank is making ABCD harmonic pattern in 15 minutes chart.
If open without gap up or gap down and sustain above PRZ(Potential reversal zone).
We can consider it for long position.
This is for education purpose only.
Bankstock
1/30/22 WFCWells Fargo & Company ( NYSE:WFC )
Sector: Wells Fargo & Company (Major Banks)
Market Capitalization: 210.571B
Current Price: $54.19
Breakout price: $54.40
Buy Zone (Top/Bottom Range): $54.10-$51.60
Price Target: $58.90-$59.40 (1st), $65.40-$66.20 (2nd)
Estimated Duration to Target: 43-47d (1st), 100-105d (2nd)
Contract of Interest: $WFC 3/18/22 55c, $WFC 5/20/22 55c
Trade price as of publish date: $2.09/contract, $3.25/contract
Citigroup, Very Weak Stock in a Very Strong MarketLooking for short entries. Above 46 would be stop loss. Citigroup is a very weak stock compared to the market so it is a good short hedge against other long positions. Expecting it to re test recent lows.
RY (Royal Bank of Canada) | 10% Short Trade SetupConfirmation: 103.60
Invalidation: Local high
Type of Trade: Countercyclical (EMA50 above EMA200)
Target: 92.19
TF:4HR
Leverage: 2x
Pattern: 1) daily double top with 2) trendline break, 3) untested 8/1 Gann, and 4) frothy fundamentals (insufficient loan loss provisions).
Deutsche Bank Commerzebank Merger Good for EquitiesThe fundamental analysis of this is fairly easy. Mergers are good for stocks. Why? Because it usually means increasing profitability. Why? Because it oftentimes leads to reducing inefficiencies and eliminating two teams that could be consolidated into one whether its with commercial banks, foreign exchange desks, etc. This merger would lead to the cutting of 30,000 jobs in Germany which would clearly help push the mega bank in a positive direction towards profitability. If talks progress positively, expect both Deutsche Bank (bars) and Commerzebank (pink) to edge up. But let's not forget, these two banks' stocks have been in the gutter since the 2008 Financial Crisis and both greatly underperformed the DAX (dark blue) and the Eurostoxx 50 (light blue). More words on this here: anthonylaurence.wordpress.com
