Market Overview

2 Analysts Weigh In On Goldman Sachs, Wells Fargo And More

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Bill Baruch of Blue Line Futures and Erin Gibbs of Gibbs Wealth Management spoke on CNBC about opportunities in the banking sector.

Baruch sees value in Goldman Sachs Group Inc (NYSE: GS). He said the stock is testing the 200-day moving average and it's trading close to its trend line. He believes the current price level is strong support.

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Baruch also likes JPMorgan Chase & Co. (NYSE: JPM) because he noticed an inverted head and shoulders pattern on its chart. He would stay away from Wells Fargo & Co (NYSE: WFC).

Gibbs sees very tough margins and growth prospects in the next year. She thinks the financials are a value play and investors are still growth-focused. Until the value takes the lead, financials are not going to be the leaders.

One stock that she would be willing to take on a very short term basis is E*TRADE Financial Corp (NASDAQ: ETFC). She thinks it could jump to $49.

Posted-In: Bill Baruch CNBC Erin GibbsMedia

 

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