TwinTrader.com announces the publication of a breakout for Yadkin Valley Financial Corp. (Nasdaq: YAVY), an excerpt highlighting public companies on the move and what’s behind their stock activity.
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Yadkin Valley Financial Corp. operates as the bank holding company for Yadkin Valley Bank and Trust Company, which provides consumer and commercial banking services to individuals and small- and medium-sized businesses in northwestern North Carolina. The company offers a range of deposit products comprising checking and savings accounts, NOW and money market accounts, interest-bearing deposits accounts, noninterest-bearing demand deposits, and certificates of deposit and individual retirement accounts.
The breakout explains why Yadkin remains outside the risk of the current financial crisis, as well as its technical position. The author writes:
“Yadkin Valley Bank’s balance sheet is not nearly vulnerable to the financial crisis as any of the large- or mid-size U.S. banks. Yadkin Valley Bank, with 24 branches, services areas of North Carolina, a state where real estate prices have, to date, held up remarkably well. Smaller well-run banks such as Yadkin Valley Bank will be a beneficiary of new customers after the economy bottoms due to the void created by larger bank bankruptcies. … After plunging in mid-August, the stock rebounded sharply as bargain hunters scooped up shares of the bank mistakenly pronounced “guilty through association.” The 50-day moving average crossed the 200-day average in early September, trending upward ever since. The MACD is showing a bullish reading; RSI is still neutral, indicating a push up in the stock price may not hit technical resistance until the stock reaches $20.”
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