So CACB (Cascade Bancorp) broke down out of the triangle I noted last month. It's now rallying to test the breakdown level.
If it can get back above this area (8.75ish), it's technically bullish in the short-term. If it fails, however, it's probably headed for significantly lower lows.
And the fundamentals suggest the latter to be more likely than the former.
2 comments:
Got to be some value play there at some point for bigger regionals. Too bad none of them are in position to be acquirers. There in lies the rub.
That, and the fact that they haven't even begun to write down their real estate-related portfolio.
Big question mark there. How much will they lose in coming quarters?
My guess is a lot more than the <1% they've already disclosed...
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