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Notable companies in the Major Banks industry 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).
This industry comprises major global banks with extensive services spanning deposits, investment banking, wealth management, and insurance. Leading banks like J.P. Morgan, Bank of America, Wells Fargo, and Citigroup have competitive advantages in terms of brand recognition and efficiency.
The average market capitalization in this industry is approximately $79.8 billion, with JPMorgan Chase & Co being the largest at $419.8 billion and MSL the smallest at $191.4 million.
In terms of price trends, weekly price growth across all stocks in the Major Banks Industry averaged 0.63%. Monthly growth averaged -1.78%, while quarterly growth averaged 4.85%. Notable price movements include Bank of America (BAC) declining -5.09% recently and Barclays (BCS) experiencing both declines and uptrends.
Average weekly volume growth for Major Banks stocks was 4%, with monthly volume growth at 37.5% and quarterly volume growth at -53.15%.
Fundamental analysis ratings for this industry include:
BAC: RSI Oscillator left oversold territory on August 28, 2023, indicating a potential upward trend with an 87% chance of a higher stock price. Current price: $28.96, below $30.80 support. Recent trends: -6% downtrend for the month, +1% uptrend for the week.
TD: RSI Oscillator moved out of oversold territory on August 28, 2023, suggesting a possible upward trend with a 62% chance of a higher stock price. Current price: $60.57, trading between $61.34 resistance and $51.94 support. Recent trends: -5% downtrend for the month, -0.10% decline for the week.
RY: RSI Oscillator left oversold territory on September 08, 2023, indicating a potential upward trend with a 79% chance of a higher stock price. Current price: $89.41, trading between $92.41 resistance and $69.19 support. Recent trends: -6% downtrend for the month, -0.02% decline for the week.
C: Broke its lower Bollinger Band on August 09, 2023, with a 71% chance of continued upward momentum. Current price: $41.68, trading between $49.14 resistance and $24.21 support. Recent trends: -6% downtrend for the month, +0.77% uptrend for the week.
BMO: RSI Indicator left oversold territory on August 28, 2023, suggesting a possible upward trend with a 63% chance of a higher stock price. Current price: $85.75, trading between $88.29 resistance and $75.10 support. Recent trends: -3% downtrend for the month, +0.54% uptrend for the week.
BCS: 50-day Moving Average crossed below the 200-day Moving Average on August 24, 2023, indicating a potential long-term bearish trend. Current price: $7.74, trading between $7.78 support and $5.42 support. Recent trends: +3% uptrend for the month, +3% uptrend for the week.
BAC saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on September 22, 2023. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 42 instances where the indicator turned negative. In of the 42 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
The Momentum Indicator moved below the 0 level on September 21, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on BAC as a result. In of 80 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 BAC crossed bearishly below the 50-day moving average on August 22, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 13 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 BAC 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 BAC entered a downward trend on September 01, 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.
The RSI Indicator entered the oversold zone -- be on the watch for BAC's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BAC advanced for three days, in of 316 cases, the price rose further within the following month. The odds of a continued upward trend are .
BAC may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
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 Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly undervalued 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 Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. BAC’s price grows at a lower 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 worse than average 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 Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly 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 (0.862) is normal, around the industry mean (0.992). P/E Ratio (7.943) is within average values for comparable stocks, (16.894). Projected Growth (PEG Ratio) (7.501) is also within normal values, averaging (3.508). BAC has a moderately low Dividend Yield (0.033) as compared to the industry average of (0.056). P/S Ratio (2.244) is also within normal values, averaging (2.461).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BAC’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 75, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a major bank
A.I.dvisor indicates that over the last year, BAC has been closely correlated with WFC. These tickers have moved in lockstep 83% of the time. This A.I.-generated data suggests there is a high statistical probability that if BAC jumps, then WFC could also see price increases.