‘Buy The Dip' Bank Signal Has Never Been Wrong

Ally Financial (ALLY) stock suffered a 17.1% bear gap on Sept. 10 after the bank issued a dire credit warning. However, the stock pared a chunk of those losses to only finish September only 3.2% lower, and to end the month, was added to Citi’s Focus List as a top pick. The analyst in coverage believes “ALLY is well-positioned to benefit from improving credit and an expanding net interest margin (NIM).” Even though the shares have consolidated since that sharp gap lower, ALLY’s dip has a historically bullish ...