Stifel Financial (SF) is scheduled to report its latest quarterly earnings today. After a deep decline, could it bottom?
Not pretty. The price of SF has been cut in half (chart above) since June 2015. The direction of the On-Balance-Volume (OBV) line has been down that entire time, telling us that the sellers of SF have been more aggressive than the buyers. Volume has been heavier on days when SF has closed lower. The slope of the 50-day average and the slope of the 200-day moving average has been down. The rate of decline in price has slowed, but without some aggressive buying, we are likely to slip still lower.
This longer-term chart of SF, above, shows how deep the decline has gone. SF has broken below its 2013 and 2012 lows. The next support area is around $25, the lows of 2011, and not exactly fresh in trader's minds. The OBV line is pointed down on this longer timeframe and there are no bullish divergences from the momentum study. With this weak short-term and long-term technical picture for SF we don't anticipate a bottom pattern in the near future.