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Asset Watch
Tuesday, April 24, 2023
Even though he acknowledged that a recession could hurt the positions, history suggests the risk is worth the reward.
The KRE ETF’s monthly chart highlights the constructive setup. For example, its monthly RSI (the black line at the bottom) is near decade-plus lows, and the vertical grey lines highlight how similar readings marked historical bottoms.
In addition, the KRE ETF has multi-year support in the $40 to $42 range, depicted by the highs and lows from 2013 to 2015 and the highs before the 2020 breakout. As a result, with the crisis calming and the technicals supporting a reversal, the slightest shift in sentiment could prove profitable for the optimists.
Should you buy when others are fearful? Or are the bears about to mastermind another mauling?
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