$JPM, $BAC, $WFC, $HSBC, $TD, and Others: Stocks Dip Approximately 10% Over the Past Month.
Over the past month, all markets have experienced a significant correction. Banking sector stocks have declined by approximately 10% and appear to be underperforming the market. If you're an investor or trader looking for more detailed signals on these stocks, our robots can provide you with information to make more informed decisions. Learn more about our active trading robots here: Swing-Trader-1-5K-per-position-Medium-Volatility-Stocks-for-Active-Trading-TA-FA. Market volatility creates opportunities, and the right tools can help you take advantage of the current situation.
Notable companies
The most notable companies in this group include JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), HSBC Holdings PLC (NYSE:HSBC), Citigroup (NYSE:C), and Barclays PLC (NYSE:BCS).
Industry description
Major banks are among the largest companies globally, often with a global presence and market capitalizations in the multi-billions. These financial giants typically have diverse operations, spanning various sectors, including deposits, investment banking, wealth management, and insurance. The largest banks often enjoy significant competitive advantages over smaller players, such as strong brand recognition, favorable cost of capital, and operational efficiency. Think of J.P. Morgan, Bank of America, Wells Fargo, and Citigroup as prominent examples.
Market Cap The average market capitalization within the Major Banks Industry is approximately $79.6 billion. Market caps for companies in this sector range from $191.4 million to $427.3 billion. JPMorgan Chase & Co (JPM) holds the highest valuation in this group at $427.3 billion, while the lowest-valued company is MSL with a market cap of $191.4 million.
High and low price notable news The average weekly price growth across all stocks in the Major Banks Industry was 0.43%. For the same industry, the average monthly price growth was -5.19%, and the average quarterly price growth was -3.92%. BACHF experienced the highest price growth at 8.87%, while BACRP experienced the biggest fall at -16%.
8/17/23 2:18 PM: HSBC Holdings (HSBC, $37.99) was a top loser this week, declining -5.71% 8/17/23 2:18 PM: Bank of America (BAC, $29.29) was a top loser this week, declining -5.09% 8/3/23 2:01 PM: Banco Santander SA (SAN, $3.8) was a top loser this week, declining -6.4%
Volume
The average weekly volume growth across all stocks in the Major Banks Industry was 27.51%. For the same stocks in the industry, the average monthly volume growth was 7.05%, and the average quarterly volume growth was 0.63%.
8/23/23 7:06 AM: The volume for Toronto Dominion Bank stock increased for one day, resulting in a record-breaking daily growth of 237% of the 65-Day Volume Moving Average 7/28/23 4:14 PM: The volume for Mitsubishi UFJ Financial Group stock increased for one day, resulting in a record-breaking daily growth of 237% of the 65-Day Volume Moving Average 3/14/23 7:57 AM: The volume for HSBC Holdings stock increased for one day, resulting in a record-breaking daily growth of 231% of the 65-Day Volume Moving Average
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is the best and 100 is the worst, are as follows:
Valuation Rating: 51 P/E Growth Rating: 54 Price Growth Rating: 51 SMR Rating: 11 Profit Risk Rating: 78 Seasonality Score: -27 (-100 ... +100)
JPM's RSI Indicator ascends from oversold territory JPM's RSI Oscillator moved out of oversold territory on August 23, 2023. This suggests the stock may be transitioning from a downtrend to an uptrend. Traders might consider buying the stock or call options. A.I.dvisor analyzed 33 similar instances when the indicator exited oversold territory, and in 24 of those cases, the stock moved higher. This implies a 73% chance of an upward move.
Stock Forecast, Price, News, Quote Current price: $147.55, above the highest resistance line at $142.68 found by A.I. During the month of 07/27/23 - 08/28/23, the price experienced a -5% downtrend. For the week of 08/21/23 - 08/28/23, the stock fell -1%.
BAC in a -0.61% downward trend, declining for three consecutive days on August 18, 2023 Declining for three consecutive days is seen as a bearish sign for BAC. Investors should monitor this stock for potential further declines. Based on historical data, in 205 out of 300 instances where BAC decreased for three days, the price continued to decline further within the following month, indicating a 68% chance of a continued downward trend.
Stock Forecast, Price, News, Quote Current price: $28.77, below the lowest support line at $30.80 found by A.I. During the month of 07/27/23 - 08/28/23, the price experienced a -10% downtrend. For the week of 08/21/23 - 08/28/23, the stock fell -1%.
WFC in a downward trend: 10-day moving average crossed below the 50-day moving average on August 21, 2023 WFC's 10-day Moving Average crossed below the 50-day moving average on August 21, 2023, indicating a shift to a lower trend, which could be considered a sell signal. In 12 out of 15 previous instances when the 10-day crossed below the 50-day, the stock continued to rise in the following month. However, there's an 80% chance of a continued downward trend based on the current signal.
Stock Forecast, Price, News, Quote Current price: $41.88, within the range of $45.48 resistance and $39.01 support lines. During the month of 07/27/23 - 08/28/23, the price experienced an -8% downtrend. For the week of 08/21/23 - 08/28/23, the stock fell -1%.
HSBC in a -0.27% downward trend, declining for three consecutive days on August 25, 2023 Continuously declining for three days is seen as a bearish sign for HSBC. Investors should monitor this stock for potential further declines. Historically, in 155 out of 286 cases where HSBC decreased for three days, the price continued to decline further within the following month, indicating a 54% chance of a continued downward trend.
Stock Forecast, Price, News, Quote Current price: $37.97, above the highest resistance line at $34.05 found by A.I. During the month of 07/27/23 - 08/28/23, the price experienced a -7% downtrend, while the week of 08/21/23 - 08/28/23 showed a +0.56% uptrend.
TD's Stochastic Oscillator sits in the oversold zone for 13 days The stock price is expected to rebound soon since an extended period in the oversold zone often precedes an uptrend.
Stock Forecast, Price, News, Quote Current price: $60.31, trading between $61.34 resistance and $51.94 support lines. During the month of 07/27/23 - 08/28/23, the price experienced a -7% downtrend. For the week of 08/21/23 - 08/28/23, the stock fell -2%.
JPM in downward trend: price dove below 50-day moving average on August 22, 2023
JPM moved below its 50-day moving average on August 22, 2023 date and that indicates a change from an upward trend to a downward trend. In of 34 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 61 cases where JPM's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved below the 0 level on September 26, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on JPM as a result. In of 87 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The 10-day moving average for JPM crossed bearishly below the 50-day moving average on August 25, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where JPM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for JPM entered a downward trend on September 19, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where JPM's RSI Oscillator exited the oversold zone, of 31 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for JPM just turned positive on September 14, 2023. Looking at past instances where JPM's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where JPM advanced for three days, in of 325 cases, the price rose further within the following month. The odds of a continued upward trend are .
JPM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 71, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. JPM’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.493) is normal, around the industry mean (0.993). P/E Ratio (9.416) is within average values for comparable stocks, (16.887). Projected Growth (PEG Ratio) (3.003) is also within normal values, averaging (3.506). JPM has a moderately low Dividend Yield (0.027) as compared to the industry average of (0.056). P/S Ratio (3.018) is also within normal values, averaging (2.461).
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a major bank
Industry MajorBanks
JPM and
Correlation & Price change
A.I.dvisor indicates that over the last year, JPM has been closely correlated with BAC. These tickers have moved in lockstep 80% of the time. This A.I.-generated data suggests there is a high statistical probability that if JPM jumps, then BAC could also see price increases.