Power Plays New Idea: SCHW
April 18, 2023
By Scott Redler
Name: Charles Schwab
Needs to Hold: $43 to $48
Price Objective 1: $60 to $65
Price Objective 2: N/A
Charles Schwab (SCHW) looked like it could be a victim of the regional bank crisis but the company is actually in good shape.
Earnings were strong yesterday and the company paused share repurchases for safety, so this situation looks stable.
The stock is still about 40% off the January highs, and I think there could be an oversold bounce.
I believe Schwab can hit the $60 to $65 area.
On the downside, I want it to stay above the $43 to 48 area. If that gets broken, I'll look to switch gears.
But for now SCHW is looking good.
Scott Redler Positions Disclosure as of 2023-04-18 at 7.10.27 AM