NEW YORK ( TheStreet) -- On June 10 I wrote Community Banks Remain Reluctant To Lend where I profiled 13 community banks, where nine were rated buy. In today's post I note that five of these community banks have been downgraded to hold including one this morning. I added two community banks that were upgraded to buy since June 10.My benchmark for community banks is the America's Community Bankers Index (^ABAQ) (203.54) has been a leader of late, setting a new multi-year high at 204.48 on Monday July 1. My quarterly value level is 183.77 with semiannual and monthly pivots at 195.75 and 200.30 and weekly risky level at 205.87.
Suttmeier: Trading Buy Rated Community Banks
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