Raising interest rates support this pickYou do not need to be a sophisticated Ph.D. in Economics for understand that Raising interest rates is a god deal for commercial Banks but this do not mean than all the commercial Banks and financial Institutions are in a Bull Trend specially because this sector was punishment during the last financial crisis of 2008 and until recently has begun to show strength based mainly in a Raising interest rates. I Set up a list of more than 140 commercial Banks and Institutions and not all are having a good time.
I select this Bank based in a Basic Understanding of the Fundamentals who move the Stock Market and the Industries and your Sectors.
But always making emphasis in the Chart and with a simple and traditional Technical Analysis (Support and Resistance)
Obviously this pick is with a long term view and with a long term hold period
Now Go to Technical: In this case you can watch the resistance breakout around 25.00 or 25.10 "do not get complicated for 0.10" and the pullback who is coming. The pullback need more time, this means need more Days for confirmation, In other words I wanna to Buy this stock at 25.30 or less and not at the actual price of 26.40 for this you can use a order called Buy limit at 25.30 or follow daily this stock and buy at the market .
The other aspect is this do you like this PE Ratio 15.11? Is too High ? compared with the Industry Is Bank of America overvalued ?
Additional Material for learning
www.investopedia.com
www.investopedia.com
www.investopedia.com
www.investopedia.com
