Stock Talks Ep 51 - Banks + Lending Technical Analysis - SOFI, BAC, WFC RKT, LDI, LC - Chart Readers Lega Serie A [5ncGQ5XkwTu]

Taking a look at a new sector - Banks + Lending - across 6 stocks SOFI, BAC, WFC RKT, LDI, LC

Overall, most are stuck in a downtrend and unable to break the 20 Moving Average or even the 8 Moving Average. LDI seeming to be the only positive in the bunch, able to break both the 8 & 20 with positive MACD and RSI on the Daily

SOFI - This made a nearly 50% jump from July to early August only to have most of that wiped away in a few weeks. The RSI on the Daily looks strong, but it looks so ugly on the weekly. There may be a slight run towards the $5.35 range, but I am not too sure it will be able to sustain any uptrend

BAC - There was a very tight cluster of Moving Averages in late September, and this stock shows what happens when clusters are lost. This has been trading well under the 8 Moving Average, and if things stay ugly in the markets, this can drop another 10% to the $27 range in the coming weeks

WFC - recent uptrend was stopped by the 50 Moving Average and we see the same downtrend noticed in BAC. WFC has a shot at dropping more with $34 looking like a strong support sitting about 15% lower than today's price

RKT - BE CAREFUL HERE!! All signs are point to a bad spiral down to All Time Lows. You dont want your hard earned money sitting in all time lows!!! Caution is advised - especially shorterm

LDI - the only real bright spot on this sector review. This was able jinkx monsoon to break the 8 and 20 Moving epidermolisi bollosa Average, with the potential to run up to the 50 Moving Average. Closing over $1.43 would be a good confirmation sign of uptrend (even if shorterm)

LC - Like the rest in the group this is struggling to stay over the 8 and 20 Moving Averages. This has a little more meme power than the rest, but overall the technicals are not looking great here

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