Time to buy banks?
The 60 day correlation between KBE and TLT is currently -.66, which means as TLT goes up banks will generally go down.
As people overall are getting more comfortable living with covid and the businesses slowly opening up this should really remove a lot of negative pressure on the banks.
KBE has formed a nice base / consolidation area for the last 3 months around $30. Recently, KBE price has broken above and holding the 20 and 50 day sma.
I will look to buy KBE in the low
30S with a stop below $27.5
As people overall are getting more comfortable living with covid and the businesses slowly opening up this should really remove a lot of negative pressure on the banks.
KBE has formed a nice base / consolidation area for the last 3 months around $30. Recently, KBE price has broken above and holding the 20 and 50 day sma.
I will look to buy KBE in the low
30S with a stop below $27.5
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.