Here's an under the radar bank stock that has a great looking chart!
A chartist must have made the Meridian Bancorp (EBSB) chart. I could take out a ruler to draw the uptrend line, but I think it would be redundant as one can easily see it with absolutely no experience. Notice the strongly rising On-Balance Volume (OBV) line in the lower panel.
In this chart, above, you get the same sense of trend along with the positive Moving Average Convergence Divergence oscillator.
Here we see the upside breakout in EBSB. Maybe we will get a shallow pullback to buy. The height of this consolidation is just $1.50 so when we add it to the breakout at $13.50 we get a $15 target -- not wildly bullish but certainly a great chart!
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Europe's biggest bank, HSBC, is in an impossible political situation, caught between London and Hong Kong. South Africa's TymeBank will have it easier expanding into the Philippines.
Now that prices are within striking distance of our target, let's review the charts.
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