Technical Analysis of LYXOR EURSTX600 BANKS(EPA:BNK) stock

Technical Rating

Overall BNK gets a technical rating of 6 out of 10. In the last year, BNK was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.

The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.

When comparing the yearly performance of all stocks, we notice that BNK is one of the better performing stocks in the market, outperforming 83% of all stocks.

BNK is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BNK is lagging the market slightly.

In the last month BNK has a been trading in a tight range between 21.62 and 22.74.

Considerably lower volume is observed in the last couple of days.

Statistics

1 Month

3 Months

6 Months

12 Months

1.29%

-2.91%

12.64%

22.10%

SMA(20)

SMA(50)

SMA(100)

SMA(200)

52 Wk Range

ST Trend

LT Trend

83.04

16.55 - 24.634

Support/Resistance Analysis

16.90

24.68

When analyzing the support we can see 4 important areas.

A support zone ranging from 21.58 to 22.24. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @20.70 from a trend line in the daily time frame.
A support zone ranging from 20.17 to 20.19. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @17.07 from a horizontal line in the weekly time frame.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 22.46 to 22.68. This zone is formed by a combination of multiple trend lines in the daily time frame.
A resistance zone ranging from 24.24 to 24.44. This zone is formed by a combination of multiple trend lines in multiple time frames.

Setup Analysis

Setup Rating

Although the technical rating is only medium, BNK does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 22.46. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 22.24, a Stop Loss order could be placed below this zone.

Possible Trading Setup

The following trade can be suggested based on the decent technical rating and setup score.

ENTRY	EXIT	DISTANCE	CAPITAL
22.69	21.64	1.05 (4.64%)	21.55%
An entry @22.69. This is a Buy Stop order right above the resistance zone.	An exit @21.64. This is a Stop Loss order right below the 10 day low.	The worst case loss on the trade is limited to 1.05 points, which is 4.64%.	For a 1.00% total portfolio risk, you can invest 21.55% of your capital in this trade.

The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.

LYXOR EURSTX600 BANKS

EPA:BNK (6/5/2023, 7:00:00 PM)

22.374

-0.18 (-0.79%)

Chartmill TA Rating

Chartmill Setup Rating

Sector

GICS SectorN/A

GICS IndustryN/A

Performance

% Chg-0.79%

1 Week0.55%

2 Weeks-1.16%

1 Month1.29%

3 Month-2.91%

6 Month12.64%

12 Month22.1%

Volatility

ATR(14)0.39

ATR(20)%1.62%

ATR Inc38.79%

Range Today0.41

Trend & SMA

ST Trend

LT Trend

SMA(5)

SMA(10)

SMA(20)

SMA(50)

SMA(100)

SMA(200)

Relative Strength & Ranges

CRS83.04

Mansfield0.29

10 Day High22.74

10 Day Low21.65

20 Day High22.74

20 Day Low21.62

52 Week High24.63

52 Week Low16.55

CS1 End22.24

CR1 Start22.46

Volume & EV

DER(3)N/A

DER(5)N/A

Volume26.85K

Volume Incr-50.29%

Vol(5)29.84K

Vol(50)60.19K

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LYXOR EURSTX600 BANKS (BNK.PA)