Chart of the Week: Stifel Financial (SF)

We’re gonna be focusing on a financial name today – Stifel Financial; SF (Sam Frank) is the symbol on this name. Let’s take a look at the chart and see why I like this one so much.
 

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As you can see here more recently, the stock has made a really strong move on pretty good volume. We can see the volume bars down over here. This last couple of weeks, the stock has made a nice move up on good volume. And that is the textbook definition of an up trend – higher highs and higher lows.

But more importantly, you can see here that the stock made a move above recent resistance levels – call it about $77 – 78 – and now it’s moving up above $80. On Monday, it had a really strong day on good volume and closed at the highs of the session.

You can see from way back in October when the stock was about $54, the stock has been in a nice strong uptrend. And you can see that once it got to about the beginning of March, it corrected a little bit. And now it’s finishing up on that correction. It bounced around for about a month, month and a half and now it’s making a move right back up again.

I think this stock’s got some room to get up the $100 level. Eventually. It’s overbought right now. Relative strength is above 70.

MACD is on a buy signal down over here. And you can see Chaikin money flow has just gone green, where it was red for about two or three weeks.

Stifel looks really strong. A lot of the financials have been very strong as well – Goldman Sachs, Morgan Stanley. More recently more high-profile names have been real solid. And I think Stifel is gonna join that group and make a move on up. So take a look at Stifel Financial.

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