Bank Stocks Round Up - Higher: RF, SNV, COF

Published on Monday, 09 January 2012 16:46 Written by Christian Paolinetti

New York, January 9th (TradersHuddle.com) - The KBW Bank Index closed higher at $42.08, which represents 1.18% from its previous close. The bank index had a pretty much broad rally with 21 index components on the plus side.

Regions Financial (NYSE:RF) was the top performer of the banking index, closing at $4.53 representing 2.72%. versus the previous trading session. Shares of Regions Financial, the Alabama based regional bank have defined support at $4.21 and resistance at $4.60.

Synovus (NYSE:SNV) was also among the top performers, closing at $1.64 representing 2.5% from its previous close. Synovus, the financial services holding company based in Coumbus Georgia has calculated support and resistance levels at $1.36 and $1.71 respectively. The other top performer was Capital One (NYSE:COF), which traded at $46.25 representing 2.41% from the previous trading session.

The bank's worst performers include Fifth Third (NASDAQ:FITB) that closed at $13.42 or -0.56% from the previous close. Shares of Fifth Third, the regional bank with presence in the Midwest and Southeast of the U.S. have defined support at $11.67 and resistance at $13.22. Also among the worst performers was JP Morgan (NYSE:JPM), which is currently trading at $35.3 representing -0.17% from the previous trading session.

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