- Customer Bancorp has missed the earnings and has seen a huge fall of 15% in intraday session
- Technical indicators are favoring a strong downside trend.It is currently trading near $26
CUBI is the ticker symbol for City National Corporation, a financial services company based in Los Angeles, California. The company operates through its primary subsidiary, City National Bank, which provides a range of banking and investment services to individuals, businesses, and other organizations.In terms of stock performance, CUBI has had a strong run in recent years. The stock has steadily risen since early 2016 and reached an all-time high in early 2020, before experiencing a dip during the market downturn caused by the COVID-19 pandemic. However, the stock has since recovered and is currently trading at levels similar to its pre-pandemic highs. Customer Bancorp has missed the expectation and has seen a huge fall.It has seen a huge fall in the revenue and has seen a fall in the profit.It has seen a drop of 36% in profit and 20% in the revenue.
CUBI has a market cap of $886 Million and has a positive EPS.Various analysts are expecting a strong growth until the end of year.
Are Bears Ready To Push The Price Down?
The weekly technical chart of the CUBI suggests a fall in the price.On the daily chart it is trading near the value of $27 and is gaining slightly. The upside move of CUBI can see a halt near $32.Meanwhile the support of the asset price can be observed near $25.It is trading below the 50 and 100 Daily Moving Average.It has seen a negative crossover which can put the price down to a new low.On the 4 hour chart it is looking to see a weak recovery for the $30. It can see a rise to $30 in the near future.
Conclusion
Customer Bancorp has missed their earnings which has made the asset price fall upto 15%. CUBI share price can see a bounceback in the near future.
Technical Levels
Major Resistance:$32
Major Support:$20
Source: https://www.thecoinrepublic.com/2023/01/27/customer-bancorp-price-prediction-will-cubi-price-miss-the-expectation-again-in-2023/