A attempted count for BANC's inverted H&S pattern
We are currently experiencing the (1) move up
3 Is the head of the pattern (orange)
2, White are the shoulders
BANC after drop to $11.00 right the main support trend line it reversal back to uptrend.
Pull back drop to $11.70 - $11.90
Target $13.30
I will hold tight without Stop Loss, it not recommend.
Disclaimer
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...
as we see, we are coming from a double top, heading to a crucial S/R (Support / Resistance). The support was tested several times already and is likely to break.
Still I reccommend you to wait till it is fully broken! Then enter your positions. If you are conservative, wait for the pullback after the breakout. If you are speculative, I recommend you to place a...
BANC has come under alot of criticism for their operations being a little too good to be true and eerily resembling another financial operator with links to the firm that turned out to be fraud (identified by some short activists). BANC responded that it's false and tried to use a firm that is a customer of the bank to help clear the air. We will see in the next...
Focus in the short term (which is 25-45 DTE for me) will be on ETF's, although opportunities could crop up with earnings (still hoping for a TWTR dip post-earnings to go long via short puts).
Here's what came up on my high IVR/IV screen:
BANC, IVR's 100/IV 100. Options, however, are crappy (monthlies only), but you can get something decent for a 20 delta short...
