Banc of California: Short Setup as Technicals and Fundamentals Diverge
Banc of California (BANC) looks ripe for a mid-term pullback. The stock trades below its short- and medium-term moving averages, EPS is negative, and short interest has been climbing. Combine those technicals with an elevated enterprise value versus market cap and thin cash per share, and the risk/reward favors a tactical short into the $15 area. T…