I have been looking through a number of financial names this morning, with some interesting results. Traders might want to consider culling shares of BankUnited (BKU) from their portfolios.
Looking at this chart of BKU, above, we can see a weakening technical picture. BKU did advance during 2015, but it peaked in November. Prices are now below the flat, 50-day Simple Moving Average and they have declined to test the 200-day average as well.
The On-Balance-Volume (OBV) line peaked in early November, telling us that sellers are becoming more aggressive, with the volume of trading bigger on down days for BKU. The trend-following Moving Average Convergence Divergence (MACD) oscillator is in a bearish configuration below the zero line. BKU looks like it will work lower, to retest the $32 to $30 area in the weeks ahead, and we cannot rule out a deeper decline.