The Charles Schwab Corporation, through its subsidiaries, provides securities brokerage, banking, and related financial services to individuals and institutional clients. It offers various brokerage products and services comprising brokerage accounts with check-writing features, debit card, and billpay; individual retirement accounts; retirement plans for small to large businesses; college savings accounts; designated brokerage accounts; equity incentive plan accounts; and margin loans, as well as access to fixed income securities, equity and debt offerings, options, and futures. The company also provides various banking products and services, including checking accounts linked to brokerage accounts, savings accounts, certificates of deposit, demand deposit accounts, first mortgages, home equity lines of credit, and personal loans collateralized by securities. It operates primarily in the United States, the United Kingdom, and Hong Kong.
To review Schwab's stock, please take a look at the 1-year chart of SCHW (The Charles Schwab Corporation) below with my added notations:
SCHW has created a couple of short-term price levels over the last (2) months. First, SCHW has formed a clear resistance level at $13 (red). In addition, the stock has also been forming an uptrending support level (green), which it has now tested (3) different times. These two levels combined have SCHW stuck within a common chart pattern known as an Ascending Triangle that will eventually have to break one way or another.
The Tale of the Tape: SCHW is currently stuck between its uptrending support and the $13 resistance. A long trade could be made on a break above $13. On the other side, you could enter a short trade on SCHW if the stock breaks below the uptrending support level.
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