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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 saw its Momentum Indicator move above the 0 level on June 26, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 84 similar instances where the indicator turned positive. In of the 84 cases, the stock moved higher in the following days. The odds of a move higher are at .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a major bank
Industry MajorBanks