Stock Talks Ep 63 - Banks + Lending Technical Analysis - SOFI, BAC, WFC, RKT, LDI, LC Alec Bohm [hLX97Uedcjz]

Banks + Lending Technical Analysis across 6 stocks: SOFI, BAC, WFC RKT, LDI, LC

It has been about 3 weeks since I made this sector video and really regret not doing another one sooner. Lots of positivlity across 5 of the 6 stocks, with some still showing signs of continuation.

Overall, the strongest ones in this group were the least tech focused. BAC and WFC are buildings with cash while SOFI and RKT try to hold themselves closer to a tech company

SOFI - This had a monster start after earnings, but lost a lot of momentum by the close of trading. That said, still a wnba scores lot of positivity on this chart and worth looking at tomorrow morning. As long as the stock is able to stay above the 8 and 50 Moving Averages, it should grey bruce county make another attempt at breaking the 100 Moving Average line.

Be sure to watch the volume!! There was A LOT today, and a big drop in volume can be a momentum killer

BAC and WFC - a beautiful 3 weeks since the last video, really carried by the strength of the Dow Jones. Sure, both companies have apps and digital presense with their .coms; however, both are pretty much just buildings with money and gold. Nothing Tech about these so they will mimic the DJIA way more than the Nasdaq.

RSIs seem a bit high on both so there may be a bit of a pullback, but ideally both are healthy. WFC seems a bit stronger overall since it already broke the 200!

RKT jimpa - made a nice turnaround in the last 3 weeks; I remember being a little pessimistic on this stock. This tested the $6.37 support a bunch of times, but luckily it was able to bounce up instead of lose it and fall down. Sitting just under the 50 Moving Average with earnings coming out in a couple days. With the Sofi release, there may be some hoping going into the earnings.

In general, safer to just wait and ride the uptrend (if it comes) than have money in the stock before the release, potentially riding a drop if it is bad

LDI - I was optimistic on this one 3 weeks ago and it really did deliver. Every similar to BAC and WFC because this is pretty much a bread-and-butter lender. Very little tech involved (other than the website). Rides the Dow Jones a little more than the Nasdaq and it showed over the last 3 weeks.

That said, this is starting to look ugly and now would be a good time to consider banking some profit before what looks like a drop down to $1.50.

a lot riding on the $1.61 support line for sure!

LC - UGLY! Was pessimistic about this one 3 weeks ago and it did nothing to turn itself around (like RKT was able to do). When a stock struggles to simply get over the 8 Moving Average, there is little hope for anything but a drop, like we saw on Lending Club today

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