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First Republic Bank Message Board

  • peacheyn peacheyn Nov 2, 2011 3:23 PM Flag

    Cup and Handle Forming?

    I'm not a technical investor. but it looks like a bullish cup and handle forming to me. in the 6 month chart. Any experts out there to examine?

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    • It does look bullish. It is above the 50-day & 100-day moving day averages. When FRC broke above $26 it went bullish of course it still will depend on the Banking Index (XLF) to go higher. I doubt it can maintain its uptrend without the sector in general. I would like to see it break above $30.

      Also from a fundamental perspective it is cheap at 11 PE, however the IPO lock-up selling will be a problem in December & January.

      By the way if you want to get a 7.25% yield you can get their preferred stock -- FRCCO. I have owned it for about 1 year.

63.87-0.19(-0.30%)Oct 6 4:03 PMEDT