Today, we will review the chart of Raymond James Financial Inc. (RJF) and provide insights from the SIA platform, focusing on both the chart of RJF and its performance relative to the SIA Financial Services Equal Weight Index (EWI410). Beginning with a technical review of EWI410, it delivered a 37.18% 1-year return, making it the third-best performing sector in the SIA index last year, behind the SIA Telecommunications Equal Weight Index (EWI572) and SIA Computer Software Equal Weight Index (EWI550). Relative to other sectors, EWI410 is currently ranked third behind the SIA Computer Software (EWI550) and SIA Aerospace & Defense (EWI454) in the SIA Market Sector Report, part of which is included in the attached table. Additionally, we highlight three sectors that have gained significant relative strength in the past quarter: SIA Computer Software (EWI550), SIA Internet (EWI568), and SIA Computer Hardware (EWI543), which have moved up 11, 15, and 10 positions, respectively. The first chart attached displays a weekly candlestick chart of the SIA Financial Services (EWI410), where 52 candles represent the trading over the past year. After reaching a high in late November, the sector experienced a pause as many companies in the sector faced selling pressure and a period of consolidation. However, the sector continued to outperform the broader market, with a similar trend occurring during the low-volume holiday trading sessions. The relative strength of the SIA Financial Services sector remained intact during this time and appears to be finding support, which is visualized on this weekly candlestick chart with lower wicks on the past three candles, highlighted with the little black box. Support and resistance levels are also indicated by the green and red lines.
One of the sector's best performers is Raymond James Financial, which now has a 1-year performance of 46.12% and a 3-month performance of 26.89%. When ranked within the SIA S&P 500 Index Report, shares of RJF are in the SIA Favored zone at position #57 overall and #23 out of 104 within the SIA Financial Services Report. The second chart attached presents the SIA point-and-figure (PNF) chart, where we have used the report overlay tool to show RJFâs movement within the SIA S&P 500 Index Report over time. The chart illustrates RJF's re-entry into the favored zone in late October 2024. The last time RJF entered the SIA Favored zone, as highlighted in the green oval (2021-2022), resulted in a significant stock price move, though it attempted to re-enter in 2023 but subsequently drifted back down the list until its recent resurgence. Resistance is now calculated at the $199.54 level, aligning with the psychological $200 level and the localized trading levels of $170.30 and $163.69, the PNF 3-box reversal level. Support levels are initially set at $134.28, $126.54, and $119.24. RJF currently holds an SMAX score of 7 out of 10, a near-term measure of relative strength against other asset classes.
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