SectorAnalysis.com
  Todd L Morris
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Comprehensive Stock Analysis by Sectors and Industry Groups
This page was last updated on Monday, March 25th, 2002. Resistance and Support values currently take into consideration that the economy is now begining to edge out of recession. Those sectors that have suffered the greatest declines in the economic downturn are likely to remain in a "shadow" or ghost recession. Stronger groups and sectors that are already out of recession, or will soon be, should see modest growth going forward for the next 12-18 months. Sector strength is an important consideration when going long in this market. Resistance and Support values are subject to change, but often take many months or up to a few years to be re-established depending on price volatility and economic fundamentals.

Banking

FinancialSection.com - Banks

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 All Sectors

Symbol Company Name 5 YR Resistance 5 YR Support  6 Mo. Trend

C
CITIGROUP

50.00 t
14.00 (b)

 Trail Stops?

 BAC
BANK OF AMERICA CORP

74.00 (t) 

36.50 b

Buy Pullback

WFC
WELLS FARGO & CO

56.50 t
 24.50 (b)

Sell

JPM
J P MORGAN CHASE & CO

52.00 (t)
29.00 b

Buy

ONE
BANK ONE CORP

 62.00 (t)
24.00 b

Buy

FBF
FLEET BOSTON FINANCIAL CP

43.50 (t)
 31.50 bb

Buy

GS
GOLDMAN SACHS GROUP INC

120.00 (t) 

 67.50 b

Buy

WB
WACHOVIA CORPORATION

36.50 t

 55.00 (bb)

Trail Stops

 BK
BANK OF NEW YORK CO INC

 55.00 (t)

36.00 b

Buy

  STI
SUNTRUST BANKS INC

 87.50 (tt)

49.00 b

 Buy

 KEY
KEY CORP

 27.25 t

24.00 (b)

Trail Stops

 FITB
FIFTH THIRD BANCORP

 87.50 t

27.00 (bb)

Trail Stops

  STL
STERLING BANCORP

 31.50 tt

15.50 (bb)*

Sell

Legend

ACCUMULATE

OVERSOLD
BUY - PRICED BELOW SUPPORT

UNDER VALUED
SELL - SET STOPS: PROTECT PROFITS / MINIMIZE LOSSES

OVER BOUGHT
SELL - TRAIL STOPS TO MAXIMIZE PROFITS: EXIT POSITION

OVER VALUED
TOPPING - t *> TIGHTEN TRAILING STOPS: TAKE PROFITS

FULLY VALUED
BOTTOMING - b *> NOT YET UNDERVALUED: CAUTION

TARGET ENTRY

* > b bottoming process often involves the retesting of support levels and can lead to prices that are under valued and below support levels. Support can also be "taken out" starting a new bottoming process. In a recession support is more likely to be taken out than resistance; especially in a stock within a weak group.
* > t topping process often involves the retesting of resistance levels and can lead to prices that are over valued and above resistance levels. Resistance can also be "taken out" starting a new topping process. In a growing economy resistance is more likely to be taken out than support; especially in a stock within a strong group.

This page was last updated on September 13th, 2001. Long term (60 month) Resistance and Support values are currently being used and take into consideration the precipitous economic downturn and current recession. Note: Resistance and Support values are subject to change, but often take many months or up to a few years to be re-established depending on price volatility.

Sector Banking

60 Month - Resistance / Support
Profit takers tighten stops Fully Valued - AVOID
Accumulate Under Valued
Sell Over Valued

Symbol

Company Name

Resistance

Support

C
CITIGROUP

59.50 t

14.00 (b)

BAC
BANK OF AMERICA CORP

74.50 (t)

36.00 b

WFC
WELLS FARGO CO

56.00 t

24.00 (b)

JPM
J P MORGAN CHASE CO

52.00 t

26.00 ( b)

ONE
BANK ONE CORP

62.00 (t)

24.00 b

FBF
FLEETBOSTON FINANCIAL CP

9.00 (t)

33.00 b

GS
GOLDMAN SACHS GROUP INC

120.00 (t)

74.00 b

WB
WACHOVIA CORPORATION

35.00 t

64.50 (bb)

BK
BANK OF NEW YORK CO INC

55.00 t

14.50 (b)

STI
SUNTRUST BANKS INC

87.50 (t)

50.00 b


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