Oppenheimer: 4 Financial Stocks That Are Technical Buys

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Oppenheimer recently released a report focused on identifying stocks with technical buy indicators in their charts. After analyzing the financial sector, Oppenheimer chose four stocks to highlight as technical buys. BlackRock Inc
BLK
Analysts like the "fresh breakout" they see in BlackRock's chart versus the S&P 500. After trading in a clearly-defined narrow sideways channel for more than two years, the stock broke above the upper boundary of the channel in early 2015. The new breakout could mean that the upper boundary of the channel will serve as a technical support level for the stock moving forward. Moody's Corp
MCO
Analysts see a clearly-defined long-term upward-sloping support line just below the 200-day moving average that has been in place since mid-2010 in the stock's chart versus the S&P 500. In addition, a level that served as resistance in early-2014 has been serving as support during the stock's brief consolidation period in early 2015. Equity Residential
EQR
Equity is one of two real estate investment trust (REIT) charts that Oppenheimer analysts highlight in the report. In the past six months, the REIT has broken above two resistance lines in its chart versus the S&P 500: one going back a couple of years and the other dating all the way back to mid-2011. Avalonbay Communities Inc
AVB
The other REIT name included in the report is Avalonbay. Avalonbay's chart versus the S&P 500 also shows a recent breakout following a broad, multi-year base formed in the past couple of years. Other industrial names The report lists Marsh & McLennan Companies Inc
MMC
The Nasdaq OMC Group Inc
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NDAQ
and E*TRADE Financial Corp
ETFC
as three other financial stocks to buy based on technical analysis.
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Posted In: Analyst ColorLong IdeasTechnicalsAnalyst RatingsTrading IdeasFinancialsSpecialized Finance
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