🎁ETF $KRE Show W Bottom Breakout, Benefit From Banks Positive Earnings
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1. $SPDR S&P Regional Banking ETF(KRE)$ show W bottom breakout on daily & weekly chart.
According to BNK Invest, they have detected an approximate $160.2 million dollar inflow — a 5.0% increase week over week in outstanding units. As of 18 July, $SPDR S&P Regional Banking ETF(KRE)$ price at $45.82 with a -22.15% YTD in 2023.
2. Why to focus on $SPDR S&P Regional Banking ETF(KRE)$
With the gradual dissipation of the banking crisis in March and the boost of consumption in Q2, the financial reports released by the banks since last week all showed that they exceeded expectations.Many banks including $JPMorgan Chase(JPM)$，$Wells Fargo(WFC)$， $Bank of America(BAC)$ , $PNC Financial Services Group Inc(PNC)$ , $Charles Schwab(SCHW)$ , $Bank of New York Mellon(BK)$ show positive react after earnings. $Morgan Stanley(MS)$. $Goldman Sachs(GS)$ and $Citigroup(C)$ will release data before Wednesday trading.
Data as 18 July 2023
The average price target for $SPDR S&P Regional Banking ETF(KRE)$ is $49.64. This is based on 537 Wall Streets Analysts 12-month price targets, issued in the past 3 months. The highest analyst price target is $57.19 ,the lowest forecast is $43.39.
$SPDR S&P Regional Banking ETF(KRE)$ top 10 holding banks are, $New York Community(NYCB)$( YTD23 +38.95%), $Bank Ozk(OZK)$ (YTD23 +10.63%), $East West(EWBC)$ （YTD23 -8.07%）, $Huntington Bancshares(HBAN)$ （YTD23, -17.38%）, $Cullen/Frost Bankers(CFR)$ (YTD23, -15.45%), $Synovus(SNV)$ (YTD23, -8.42%), $M&T Bank(MTB)$（YTD23, -7.1%）, $Webster(WBS)$ (YTD23, -8.89%), $Regions(RF)$（YTD23, -8.91%）, $Pinnacle Financial Partners(PNFP)$ (YTD23, -11.83%). There all shaping a W bottom breakout recently.
Data from Yahoo.finance.com
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Do you have interest in $SPDR S&P Regional Banking ETF(KRE)$ and other banks?
What's your target price for $SPDR S&P Regional Banking ETF(KRE)$ or your interested banks stocks?
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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Do consider $iShares US Regional Banks ETF(IAT)$ where also invest in lots of big banks!
Tigers, come share if you interested invest in regional bank ETF?
Better put KRE into watchlist and monitor it? [Thinking]
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