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Here's why this financial technology fund could break out during earnings season

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Global X Fintech ETF,Markets,Investment Strategy

The Global X FinTech ETF looks attractive after a long period of underperforming the broader market, according to Wolfe Research.

This earnings season could prove to be a breakout point for a part of the financial sector that is often overshadowed by the titans of Wall Street, according to Wolfe Research. Technical analyst Rob Ginsberg said in a note to clients Wednesday that the Global X FinTech ETF looks attractive after a long period of underperforming the broader market.

mountain The FINX ETF has shown early signs of a rebound in 2024. While most of the biggest banks have already released quarterly results this month, other financial companies still have that potential catalyst coming up. Four of the top five holdings in FINX have yet to announce their earnings for the current cycle, for example. Top holding Paypal could be of particular interest. Ginsberg wrote that the ETF has some positive technical signals of its own.

 

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