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Why Bank of America, Citi, JPMorgan, Wells Fargo Still Face Hurdles

Let's look at the technical trading profiles for the four "too big to fail" banks

Bank of America ($16.05) is trading just above its 200-day simple moving average at $15.91. The weekly chart is positive with the five-week modified moving average at $15.61. A semiannual value level is $10.16 with a quarterly risky level at $19.37.

Citigroup ($51.47) is trading well above its 200-day SMA at $49.28. The weekly chart is positive with the five-week MMA at $49.43. A semiannual value level is $48.92 without a risky level.

JPMorgan Chase ($51.47) is trading well above its 200-day SMA at $57.06. The weekly chart is positive with the five-week MMA at $57.63. A semiannual value level is $59.39 with a quarterly risky level at $69.02.

Read More: Lending Club to Be First of Many Crowdfunders to Hit the Market

Wells Fargo ($51.24) is trading well above its 200-day SMA at $48.29. The weekly chart is neutral with the five-week MMA at $50.99 with declining 12x3x3 weekly slow stochastic. A semiannual value level is $43.27 with a semiannual pivot at $50.95 and quarterly risky level at $53.09.

At the time of publication, the author held no positions in any of the stocks mentioned, although positions may change at any time.

Follow @Suttmeier

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.


TheStreet Ratings team rates BANK OF AMERICA CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate BANK OF AMERICA CORP (BAC) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its expanding profit margins, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: BAC Ratings Report

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