TwinTrader.com announces the publication of Breakout for Berkshire Hills Bancorp Inc. (BHLB), an excerpt highlighting public companies on the move and what’s behind their stock activity.
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Berkshire Hills Bancorp Inc. operates as a bank holding company for Berkshire Bank, which provides commercial and consumer banking, and banking institutional services. The company provides various deposit products, including interest-bearing checking, non interest-bearing checking, checking, negotiable order of withdrawal, regular savings and money market savings accounts, as well as time certificates of deposit.
The breakout features better-than-expected earning as small banks benefit from major bank failures, as well as the day’s technicals. The author writes:
“Berkshire Hills’ last earnings release was strong, especially in today’s environment of record big money-center bank losses. The bank releases earnings October 23, and expectations are for a better than expected earnings report. Smaller banks will be the beneficiaries of major bank failures, enticing investors into buying on sector weakness. … Shares of Berkshire Hills have bucked the trend of the overall stock market during the past two to three weeks. Today, the stock price struggles to remain above its overhead resistance of $30, but is performing well against the backdrop of a major down move in the Dow and mini-crash in the Dow Transportation Index. The 50-day moving average is rising at a somewhat steep rate. And since breaking out above $28 the stock has experienced severe volatility.”
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