Today's Technical View on Bank of America, Citigroup, Wells Fargo & Co., and Bank of Montreal PR Newswire LONDON, March 7, 2013 LONDON, March 7, 2013 /PRNewswire/ -- Bank stocks had an excellent run in 2012 despite a challenging macro environment. Since the financial crisis of 2009, major banks in the U.S. have been strengthening their balance sheets. Banks are also adapting to changing regulatory environment. Although record low interest rates have put pressure on net interest margins, banks such as Bank of America Corp. (NYSE: BAC), Citigroup Inc. (NYSE: C) and Wells Fargo & Co. (NYSE: WFC) are benefiting from an increase in mortgage lending activity. Canadian banks such as Bank of Montreal (USA) (NYSE: BMO) are also benefiting from an improved macro environment. Bank stocks finished mostly higher in Wednesday's trading session as the Dow Jones closed at yet another all-time high. StockCall initiated free in-depth technical analysis on BAC, C, WFC, and BMO which are currently available upon sign up at http://www.stockcall.com/research Shares of Bank of America Corp. rallied in Wednesday's trading session. The stock closed 3.20% higher at $11.92 on above average volume of 182.56 million. The bank's shares have now gained more than 5% in the last three trading sessions, outperforming the broad market. However, year-to-date, Bank of America's shares have underperformed the broad market, gaining a little over 2.60%. However, technical indicators suggest that market sentiment has just turned bullish on the stock. The stock has recently moved above its 50-day moving average. The stock has finished higher in each of the four previous trading sessions on substantial volume. Sign up for the free technical analysis on BAC at http://www.StockCall.com/BAC030713.pdf Shares of Citigroup Inc. rose sharply in Wednesday's trading session, closing 2.25% higher at $44.58 on above average volume of 35.99 million. The stock hit a 52-week high of $44.75 yesterday. For the week, Citigroup shares have gained nearly 6%, outperforming the broad market. Year-to-date, the stock has gained more than 12%, outperforming the S&P 500. Citigroup shares have broken through $44 resistance level, which is a bullish signal. The bullish trend is further confirmed by the MACD chart. The stock's MACD chart has just crossed above the signal line. Download the free report on C by registering at http://www.StockCall.com/C030713.pdf While shares of Bank of America Corp. and Citigroup Inc. rallied on Wednesday, shares of Wells Fargo & Co. posted modest gains. The stock closed 0.47% higher at $36.05 on volume of 18.49 million after touching an intra-day high of $36.14. Wells Fargo shares are currently hovering around their 52-week high of $36.60. Year-to-date, the stock has gained nearly 5.50%, underperforming the broad market. Technical indicators for the banking giant are currently giving strong bullish signals. The stock's MACD has just crossed the signal line on the upside. Recent volume activity also points to bullish market sentiment. The free report on WFC can be downloaded by signing up now at http://www.StockCall.com/WFC030713.pdf Shares of Bank of Montreal fell in Wednesday's trading session, closing 0.69% lower at $62.02 on volume of 340,365. Year-to-date, the bank's shares have gained just a little over 1%, underperforming the S&P 500, which has gained more than 8% in the same period. Bank of Montreal's shares are currently facing resistance at around $62.50. The stock has support at $62. Free report on BMO can be accessed by registering at http://www.StockCall.com/BMO030713.pdf About StockCall.com StockCall.com is a financial website where investors can have easy, precise and comprehensive research and opinions on stocks making the headlines. Sign up today to talk to our financial analyst at http://www.stockcall.com SOURCE StockCall.com Contact: Contact Person:William T. Knight, Email: firstname.lastname@example.org, Contact Number: +1(646)396-9857 (9:00 am EST - 01:30 pm EST)
Today's Technical View on Bank of America, Citigroup, Wells Fargo & Co., and Bank of Montreal
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