Huntington Bancshares Inc logo

HU3 - Huntington Bancshares Inc News Story

€7.4 0.0  0.0%

Last Trade - 25/09/20

Sector
Financials
Size
Large Cap
Market Cap £7.04bn
Enterprise Value £15.13bn
Revenue £3.67bn
Position in Universe 120th / 1041

BUZZ-U.S. Financials ETF: Deteriorating momentum may tell

Wed 21st March, 2018 3:42pm
** Financial Select Sector SPDR Fund XLF.P recovered off its early Feb trough, but failed to make new high urn:newsml:reuters.com:*:nL2N1PQ7R1 ** With momentum waning, risk on the charts tilts toward downside resolution of its past month's choppy range ** This as the market awaits results of first FOMC policy meeting with Jerome Powell at helm urn:newsml:reuters.com:*:nL1N1R11B6 ** Indeed, Fed expected to raise rates and may signal more hikes coming in response to tax cuts and government spending ** This as 5-30 U.S. Treasury Yield Spread US5US30=TWEB remains in down trend, flirting with fresh lows back to Aug 2007 ** Financial Sector .SPSY slightly outperforming broader S&P 500 .SPX YTD, up 2.8 pct vs 1.7 pct ** However, as banks .SPXBK , tech .SPLRCT face-off on the charts urn:newsml:reuters.com:*:nL1N1QW1E4, fins have been lagging; tech leading SPX sector YTD with 7.9 pct gain, growth still holds upper hand over value urn:newsml:reuters.com:*:nL1N1QV0VQ urn:newsml:reuters.com:*:nL1N1R10VI ** XLF did retrace 86 pct of its Jan/Feb slide into $29.81 Mar 12 high. Chart: http://reut.rs/2ptCU7G ** However, ETF failed to hold gains, currently trapped between its 200-DMA, support ($28.13) and its 50-DMA, resistance ($29.03) urn:newsml:reuters.com:*:nL3N1R345F ** Momentum oscillator diverged into mid-Mar high, deteriorating further; suggests ETF has weak stance ** XLF close below 200-DMA can suggest potential for fall below Feb trough ($26.76); Nov 2017 low ($25.86) urn:newsml:reuters.com:*:nL1N1R1144 urn:newsml:reuters.com:*:nL1N1R20FG ** Reclaiming 50-DMA on close, can instead refocus XLF on $29.81 then $30.325 high; 2007 all-time high ($30.98) ** XLF top holdings by pct weight end-Feb include: JPMorgan Chase JPM.N , Berkshire Hathaway BRKb.N and Bank of America BAC.N <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ XLF 0321 http://reut.rs/2ptCU7G ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> ((RM: terence.gabriel.tr.com@reuters.net (terence.gabriel@tr.com 646-223-4122))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.