Assessing 68 Community Banks that Report Quarterly Results
NEW YORK ( TheStreet) -- Several strategists and bank stock analysts are advising investors to consider buying the smaller community banks instead of buying the bigger regional names.
My role is to separate those that look healthy versus those who are risky.
This week investors have 68 community banks to choose from; 14 Savings & Loans, 17 from the northeast, 15 from the southeast, 10 from the midwest, 11 from the west, and one small major regional.
As I said last week in
Chart Courtesy of Thomson / Reuters ABAQ (164.50) declined by 2.4% last week, but remains up 35.5% since October 2011, and is up 11.2% year to date. The daily chart above is negative with declining momentum (12x3x3 daily slow Stochastic), with a close on Friday below its 21-day simple moving average at 163.37. The 50-day and 200-day simple moving averages are key supports at 161.30 and 155.29. My quarterly value level is 161.51 with weekly and annual pivots at 164.66 and 166.87 and monthly risky level at 172.92.
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