Bank Basket

March 17th Bank Basket Special Report based On 1.00 Lot Calculation:

Stock Performance- March 3rd, 2023 to March 15th, 2023

Source: Bloomberg

AVERAGE CHANGE: -13.89%

• These six stocks represent the largest global financial institutions in the United States.
• The stocks belong to the Banking and Financial Sector They are all part of S&P 500. J.P. Morgan and Goldman Sachs are also part of the prestigious Dow Jones Industrial Average.
• The banking sector has been under pressure this month. The United States saw the collapse of two of its large regional banks, Silicon Valley Bank and Signature Bank. Those two failures were the second and third largest banking failures in U.S. history. The U.S. Government stepped in and will make all customer accounts whole.
• In Europe, Credit Suisse, a Global Systemic Important Bank, (G-SIB), faced rumors of its demise after several years of scandals and bad management decisions. On March 15th, 2023, Credit Suisse’s stock tumbled over 24%. However, at the end of the day, the Swiss National Bank, offered a 50 billion Swiss Franc credit line to Credit Suisse which it quickly accepted.
• The sell-off in major bank stocks is an over-reaction, and they are well poised for a reversal as a group since in both the United States, and in Europe, regulators have successfully dealt with the issues at Silicon Valley Bank, Signature Bank, and Credit Suisse. In each case their problems were due to poor management and not a systemic banking problem.

STOCK PRICE REACTION: BASED ON FUNDAMENTAL ANALYSIS¹

TARGET LEVELS: SUPPORT AND RESISTANCE

Note: Support and Resistance Levels have been calculated by using upside and downside potential figures.

Please note that past performance does not guarantee future performance.

1. Profit/Loss Calculation: Based on 1 lot (*) on each of the six stocks (6 lots).

* J.P. Morgan, Morgan Stanley, Bank of America, Citigroup, and Goldman Sachs: 1.00 lot is equivalent to 1000 units. Wells Fargo: 1.00 lot is equivalent to 5000 units.

2. Calculations for exchange rate used as of 07:59 (GMT) 17/03/2023.

Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.

• You may wish to consider closing your position in profit, even if it is lower than suggested one.
• Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more detail.