Financials are in a funk. There is one name in the group that is setting up for a breakout, though, according to Todd Gordon of TradingAnalysis.com.
div > div.group > p:first-child"> The sector has tumbled 9 percent over the past year, by far the worst-performing S&P 500 sector over that stretch.
"One financial that I do like is Bank of America," Gordon said Wednesday on CNBC's"Trading Nation.""Obviously you have a very nice uptrend here, you've broken resistance, we've come back to test support." Bank of America needs to rally around 5 percent to push through $30. The stock has not traded above that level since October.
"Banks are stronger than ever from a balance sheet standpoint, from a risk standpoint, they're taking less risk than they ever have, and from a cash standpoint. Then you throw in earnings, positive earnings and low PEs for many of the banks," Bapis said Wednesday on"Trading Nation."
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