TBBK trade ideas
$TBBK longThe word on the street is that the Fed will hike rates this year, some saying 6 rate hikes. A regional bank like The Bancorp might earn more with increased interest rates. The stop would be about 2% lower at the lower trend line. Confirmation is 5% higher at the upper trend line. $TBBK has a low float (52M share) but no high short interest. $TBBK could have a nice long term run for buy and hold investors, but don't expect fireworks from this one
TBBK broke outNASDAQ:TBBK broke out and ready to head higher. Anticipated price action and targets are shown on the chart, stop loss daily close below 25$.
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This is only my own view and not financial advice, do your own analysis before buying or selling
Happy Trading!
TBBK LongAs per the chart
Consolidation looks complete with the gap up & close higher on friday - looks ready to make a run at the 15 year high it made recently
The Bancorp, Inc. Announces New Stock Repurchase Program!!!TBBK: The Bancorp, Inc.
2020-11-05 16:05:00
The Bancorp, Inc. Announces New Stock Repurchase Program
Sofi Guys for the winReally bullish trend heading into the consolidation zone.
Once the breakout occurred I knew the pattern would end early because of previous support = new resistance.
7 Day trade. Felt good. One of my best trades this year.
TBBK, 1st opportunity for Long positionTBBK went through a major downtrend in the 2014/15 timeframe. A distribution zone preceded this downtrend with a price potential in the $2-$3 range. The stock did achieve this price potential.
Over the last year the stock developed an up-trend in the monthly graph.
Looking at the daily/weekly graph one can observe a narrow accumulation range, last week the price went below the support line in a False Break.
Given the up-trend in the monthly graph and this False Break any up-reversal above $4.75 represents an opportunity to open a Long position with minimum target of ~$6 (return to the Up-Trend channel)
