In this episode of LiveTrades.TV Sector Update we take a look at Regional Banks including $FITB $ZION and $OSBC.
LiveTrades featured traders, Anthony Verdone and CJ Agresta discuss their thoughts on the where this sector may be headed.
To follow Anthony’s trades and charts please visit his profile on www.stocktwits.com under @WeeklyTrade.
To follow CJ’s trades and charts please visit his profile on www.stocktwits.com under @trusttheprocesstrading
US Regional Banks- Morningstar’s Regional Bank Index shows a 15% gain since bouncing off the bottom of a nine-month basing pattern on September 8th. The index cleared major resistance near the 1920.00 level this past Wednesday and quickly ran into the next area of resistance Friday near 1985.00, which marks the all-time high. Interestingly, this chart is nearly identical to the Russell 2000 chart, IWM, which broke out decisively to all-time highs this week. A sign of things to come for the sector? Read more of CJ’s report – click here.
Forward Looking Statements
This LIVETRADES.TV video interview contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company’s contracts, the Company’s ability to raise sufficient development and working capital, the Company’s liquidity position, the Company’s ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all.
Neither LIVETRADES.TV or any of its principals currently own or plan to own within 72 hours of publication any shares of the stocks mentioned in this video.
LIVETRADES content and productions are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in LIVETRADES content and productions, or other investor relations materials and presentations are subject to change. Neither LIVETRADES nor any of its data or content providers shall be liable for any errors or delays in the content, or for any actions taken in reliance thereon. All data and information is provided for informational or entertainment purposes only. LIVETRADES is not a registered broker-dealer or a registered investment advisor.