Bank Stocks Round Up - Higher: BAC, WFC, SNV

Published on Friday, 23 December 2011 16:46 Written by Christian Paolinetti

New York, December 23rd (TradersHuddle.com) - The KBW Bank Index closed higher at $39.94, which represents 0.66% from its previous close. The bank index exhibited strong upside with 19 index components on the plus side.

Bank of America (NYSE:BAC) was the top performer of the banking index, closing at $5.6 representing 2.38%. versus the previous trading session. Shares of Bank of America, the largest U.S. lender have defined support at $4.92 and resistance at $5.95.

Wells Fargo (NYSE:WFC) was also among the top performers, closing at $27.8 representing 2.02% from its previous close. Wells Fargo, the San Francisco based diversified financial services Company has calculated support and resistance levels at $25.18 and $27.21 respectively. The other top performer was Synovus (NYSE:SNV), which traded at $1.46 representing 1.39% from the previous trading session.

The bank's worst performers include Citigroup (NYSE:C) that closed at $27.37 or -1.01% from the previous close. Shares of Citigroup, the diversified financial services firm have defined support at $24.40 and resistance at $30.14. Also among the worst performers was Fifth Third (NASDAQ:FITB), which is currently trading at $12.84 representing -0.58% from the previous trading session.

Today, the banks underperformed the broad market index S&P 500.