Major banks, including $JPM, $BAC, $WFC, $HSBC, $UBS, rose up to 5% in a day, signaling a growing trend.
During the regular session, the S&P 500 surged by 1.9%, and the Nasdaq Composite experienced a notable 2.4% increase, marking the best day for both indexes since April. The 30-stock Dow saw a substantial gain of nearly 490 points, equivalent to 1.4%.
These significant gains followed October's consumer price index, a crucial inflation metric, which reported a lower-than-expected 0.1% increase anticipated by economists surveyed by Dow Jones. Instead, the CPI remained flat on a monthly basis. Investors responded positively to this news, propelling stocks upward in anticipation that the Federal Reserve might conclude its rate-hiking campaign.
In the wake of this positive development, banks also saw growth, with some experiencing increases of up to 1-5% in a single day. Our robots didn't miss out on this upward trend. Stay in the loop by subscribing to our robots:AI ROBOTS
Notable companies The most notable companies in this group are JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), HSBC Holdings PLC (NYSE:HSBC), Citigroup (NYSE:C), Barclays PLC (NYSE:BCS).
Industry description Major banks are among the biggest companies in the world, often times with global reach and market capitalizations in the multi-billions. Large banks often have multiple arms spanning different disciplines, from deposits, to investment banking, to wealth management and insurance. The biggest banks often have key competitive advantages over smaller players in the industry in terms of brand recognition, cost of capital, and efficiency. Think J.P. Morgan, Bank of America, Wells Fargo, and Citigroup.
Market Cap The average market capitalization across the Major Banks Industry is 80.1B. The market cap for tickers in the group ranges from 191.4M to 421.5B. JPM holds the highest valuation in this group at 421.5B. The lowest valued company is MSL at 191.4M.
- 4/15/23 7:13 AM: JPMorgan Chase & Co (JPM, $138.73), market cap jumped by $27.3B
- 3/10/23 7:52 AM: JPMorgan Chase & Co (JPM, $130.34), market cap dropped by $22.0B
High and low price notable news The average weekly price growth across all stocks in the Major Banks Industry was 1.9%. For the same Industry, the average monthly price growth was 1.71%, and the average quarterly price growth was 2.89%. BNDSY experienced the highest price growth at 14.85%, while TNTTF experienced the biggest fall at -16.82%.
- 11/8/23 9:16 AM: UBS Group AG (UBS, $24.92) was a top weekly gainer, with a +6.22% jump
- 11/7/23 8:12 AM: HSBC Holdings (HSBC, $37.93) was a top weekly gainer, with a +5.3% jump
- 11/4/23 8:07 AM: Wells Fargo & Co (WFC, $41.62) was a top weekly gainer, with a +8.34% jump
Volume The average weekly volume growth across all stocks in the Major Banks Industry was 81.56%. For the same stocks of the Industry, the average monthly volume growth was -6.03%, and the average quarterly volume growth was 23.51%.
- 10/31/23 9:04 AM: The volume for HSBC Holdings stock increased for one day, resulting in a record-breaking daily growth of 249% of the 65-Day Volume Moving Average
- 9/28/23 12:58 PM: The volume for Mitsubishi UFJ Financial Group stock increased for a consecutive 5 days, with an average daily gain of 67%
- 8/31/23 7:59 AM: The volume for UBS Group AG stock increased for a consecutive 5 days, with an average daily gain of 72%
Fundamental Analysis Ratings The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows:
- Valuation Rating: 51
- P/E Growth Rating: 55
- Price Growth Rating: 49
- SMR Rating: 11
- Profit Risk Rating: 67
- Seasonality Score: 10 (-100 ... +100)
JPM's RSI Oscillator ascends from oversold territory The RSI Oscillator for JPM moved out of oversold territory on October 30, 2023. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 30 similar instances when the indicator left oversold territory. In 21 of the 30 cases the stock moved higher. This puts the odds of a move higher at 70%.
Stock Forecast, Price, News, Quote Current price $148.40 is above $142.68 the highest resistance line found by A.I. Throughout the month of 10/13/23 - 11/14/23, the price experienced a +0.30% Uptrend. During the week of 11/07/23 - 11/14/23, the stock enjoyed a +3% Uptrend growth.
BAC in upward trend: price rose above 50-day moving average on November 02, 2023 BAC moved above its 50-day Moving Average on November 02, 2023 date, indicating a change from a downward trend to an upward trend. In 29 of 38 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are 76%.
Stock Forecast, Price, News, Quote Current price $29.23 is below $30.80 the lowest support line found by A.I. Throughout the month of 10/13/23 - 11/14/23, the price experienced a +9% Uptrend. During the week of 11/07/23 - 11/14/23, the stock enjoyed a +4% Uptrend growth.
WFC in upward trend: 10-day moving average moved above 50-day moving average on November 13, 2023 The 10-day Moving Average for WFC crossed bullishly above the 50-day moving average on November 13, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In 13 of 14 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 90%.
Stock Forecast, Price, News, Quote Current price $42.07 crossed the support line at $39.01 and is trading between $45.48 resistance and $39.01 support lines. Throughout the month of 10/13/23 - 11/14/23, the price experienced a +4% Uptrend. During the week of 11/07/23 - 11/14/23, the stock enjoyed a +3% Uptrend growth.
HSBC's RSI Oscillator ascending out of oversold territory The RSI Oscillator for HSBC moved out of oversold territory on November 02, 2023. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 33 similar instances when the indicator left oversold territory. In 23 of the 33 cases the stock moved higher. This puts the odds of a move higher at 70%.
Stock Forecast, Price, News, Quote Current price $37.91 is above $34.05 the highest resistance line found by A.I. Throughout the month of 10/13/23 - 11/14/23, the price experienced a -3% Downtrend, while the week of 11/07/23 - 11/14/23 shows a +2% Uptrend.
UBS's MACD Histogram just turned positive The Moving Average Convergence Divergence (MACD) for UBS turned positive on November 02, 2023. Looking at past instances where UBS's MACD turned positive, the stock continued to rise in 35 of 44 cases over the following month. The odds of a continued upward trend are 80%.
Stock Forecast, Price, News, Quote Current price $24.89 crossed the support line at $22.53 and is trading between $29.69 resistance and $22.53 support lines. Throughout the month of 10/13/23 - 11/14/23, the price experienced a +2% Uptrend, while the week of 11/07/23 - 11/14/23 shows a -0.12% Downtrend.
MUFG in upward trend: price rose above 50-day moving average on November 14, 2023 MUFG moved above its 50-day Moving Average on November 14, 2023 date, indicating a change from a downward trend to an upward trend. In 22 of 30 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are 73%.
Stock Forecast, Price, News, Quote Current price $8.83 is above $5.90 the highest support line found by A.I. Throughout the month of 10/13/23 - 11/14/23, the price experienced a +8% Uptrend. During the week of 11/07/23 - 11/14/23, the stock enjoyed a +5% Uptrend growth.
JPM's Stochastic Oscillator stays in oversold zone for 9 days
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where JPM's RSI Oscillator exited the oversold zone, of 28 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
JPM moved above its 50-day moving average on December 20, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where JPM advanced for three days, in of 343 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.
The Aroon Indicator entered an Uptrend today. In of 274 cases where JPM Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on December 09, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on JPM as a result. In of 89 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 Moving Average Convergence Divergence Histogram (MACD) for JPM turned negative on December 02, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 46 similar instances when the indicator turned negative. In of the 46 cases the stock turned lower in the days that followed. This puts the odds of success at .
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 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 47, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding 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 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 Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly overvalued 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: JPM's P/B Ratio (1.907) is slightly higher than the industry average of (0.958). P/E Ratio (12.258) is within average values for comparable stocks, (8.937). Projected Growth (PEG Ratio) (3.448) is also within normal values, averaging (2.643). JPM has a moderately low Dividend Yield (0.021) as compared to the industry average of (0.054). P/S Ratio (3.779) is also within normal values, averaging (2.460).
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