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TheStreet Open House

5 Banks to Buy After JPMorgan's Big Mistake

Stocks in this article: JPM WFC FULT PB BAP CYN

BALTIMORE ( Stockpickr) -- JPMorgan Chase (JPM), the world's biggest bank, is still getting plenty of attention this week -- for all the wrong reasons.

After CEO Jamie Dimon announced that the firm lost at least $2 billion on a poorly managed trade, all eyes have been on JPM and its freefalling stock; shares of JPMorgan have tumbled close to 12% since Thursday afternoon. There are a couple of consequences from the loss at JPM (aside from the ceremonial career Seppuku offered by a few unlucky execs). The first is that investor anxiety is ramped up even higher over the risks at banks, and the second is that there are some definite trading opportunities on the heels of the shakeout.

>>5 Rocket Stocks to Buy This Week

Even though a lot of analysts have made value arguments for buying the big banks right now, I think that investors are right in discounting the labyrinthine balance sheets and risk management at the bigger names. But from a technical analysis perspective, there are trades to be made here.

For the unfamiliar, technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution.

Here's a look at five technical setups in bank stocks that could deliver breakout gains to your portfolio this week.

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