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March 17, 2023
Risk Disclaimer: The example below is for illustrative purposes only and is based on price movements derived from Contracts for Difference (CFDs). The calculations reflect hypothetical outcomes using historical or specified price data for the relevant instrument on the stated date and are not indicative of future performance. Any reliance placed on this material is strictly at the user’s own risk.
March 17th Bank Basket Special Report based On 1.00 Lot Calculation:
Stock Performance- March 3rd, 2023 to March 15th, 2023
|
Company |
March 3rd Close |
March 15th Close |
Percent Change |
|
J.P. Morgan |
$143.68 |
$128.30 |
-10.70% |
|
Goldman Sachs |
$357.05 |
$312.41 |
-12.50% |
|
Wells Fargo |
$46.94 |
$38.87 |
-17.19% |
|
Morgan Stanley |
$97.05 |
$85.41 |
-11.99% |
|
Citigroup |
$52.35 |
$44.82 |
-14.38% |
|
Bank of America |
$34.15 |
$28.50 |
-16.54% |
Source: Bloomberg
AVERAGE CHANGE: -13.89%
STOCK PRICE REACTION: BASED ON FUNDAMENTAL ANALYSIS1
|
Downside potential |
Upside Potential |
|
-5.00% |
+10.00% |
|
Potential Profit/Loss on 1 lot of every stock in the basket1 |
|
|
-$40,1602 |
$80,3192 |
|
-€37,6552 |
€75,3112 |
|
-£33,0152 |
£66,0302 |
|
-C$54,9542 |
C$109,9092 |
TARGET LEVELS: SUPPORT AND RESISTANCE
|
Company |
Ticker |
Support |
Current Price |
Resistance |
|
J.P. Morgan |
#JP_Morgan |
$123.98 |
$130.51 |
$143.56 |
|
Goldman Sachs |
#GS |
$299.25 |
$315.00 |
$346.50 |
|
Wells Fargo |
#WELLSFARGO |
$37.30 |
$39.26 |
$43.19 |
|
Morgan Stanley |
#MORGAN_STA |
$82.58 |
$86.93 |
$95.62 |
|
Citigroup |
#CITIGROUP |
$43.26 |
$45.54 |
$50.09 |
|
Bank of America |
#BOA |
$27.46 |
$28.91 |
$31.80 |
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.