• April 2, 2023

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Interest rate hikes are taking a toll on investment firms as they adjust to the Fed’s actions designed to tame inflation. The shares of these five well-known financial concerns are being sold so fiercely that each one is making the “new 52-weeks low” list, not exactly an honor.

The expectation that more rate hikes are on the way is not helping the stocks in this sector. Nor is the OPEC decision to cut oil production, another factor to consider when it comes to inflation. And it hasn’t helped that Vladimir Putin keeps dropping hints about how crazed he might become.

All of these different types of fear add up to new lows for this group.

Here’s the daily price chart for AllianceBernstein Holdings (NYSE: AB)

This September sell-off has taken the price below the May low, so a downtrend is confirmed. The direction of the 200-day moving average has been trending downward since mid-April and now the 50-day moving average is joining in the down direction. It may be that AllianceBernstein is oversold as the RSI indicates.

Take a look at the daily price chart for DigitalBridge Group Inc (NYSE: DBRG)

Note how the stock was priced at $30 back in April and has now declined by more than half with a current price of $12.50. Both significant moving averages are trending downward and DigitalBridge Group’s price is well below both of them. The RSI, below the price chart, is showing an oversold reading.

This is the daily price chart for Franklin Resources



The stock is trading below the 200-day moving average and the 50-day moving average, a bearish reading. Both of those moving averages are now trending downward as Franklin Resources hits the new 52-week low. It appears to be in oversold range, according to the RSI.

Here is the daily price chart for Blackrock Inc (NYSE: BLK)

The new 52-week low comes with the stock trading well below the 200-day moving average and the 50-day moving average. For Blackrock to start looking bullish again, it would have to move back above those 2 moving averages, just to begin with. The relative strength indicator shows an oversold status.

This is the daily price chart for Janus Henderson Group PLC (NYSE: JHG)

As with the four other stocks listed above, this one looks bearish with the new low definitely below the two significant moving averages. Note that both the 200-day and the 50-day moving average are trending in the down direction and have been for weeks.

Since this is October, the month best known for its history of significant market lows, it’s possible that bargain hunters could swoop in and create a rally from here. If investors conclude that interest rate fears are priced in at these levels, maybe buyers can take over from sellers.

A lot may depend on the release of the consumer price index Thursday by the U. S. Bureau of Labor Statistics.

Not investment advice. For educational purposes only.


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