SELL: Texas Capital Bancshares (TCBI)
From Cabot Growth Investor
Updated from WSBI 791, March 15, 2017
Texas Capital Bancshares (TCBI) TCBI broke down badly last week when financial stocks fell apart. Longer-term, the company is probably fine, but the combination of the sector’s correction and the stock’s first meaningful drop below its 50-day line in seven months (something that frequently leads to a prolonged base-building effort) had us selling last week. If you still own some, we’d advise selling either here or on a further bounce.
Michael Cintolo, Cabot Growth Investor, www.cabotwealth.com, 978-745-5532, March 29, 2017