Is this the Turning Point for FinTech Stocks? Technical Analyst Offers Insights on the Global X FinTech ETF (FINX) and its Potential Rebound”.

Financial technology (FinTech) stocks have been experiencing a recent downturn, with many companies underperforming compared to the broader market. However, according to technical analyst Rob Ginsberg of Wolfe Research, this earnings season could be a turning point for the financial sector that often gets overshadowed by Wall Street giants.

Ginsberg believes that the Global X FinTech ETF (FINX) presents an attractive opportunity after a period of underperformance. With several fintech and financial service companies set to report their earnings in the coming weeks, the FINX ETF has been building a strong base over the past two years and is now at a critical point where it could potentially regain momentum.

The FINX ETF has seen a total return of over 7% in the last three months and has shown signs of a rebound in 2024. While major banks have already reported their quarterly results, there are still potential catalysts for other financial companies, with four of the top five holdings in FINX yet to announce their earnings.

One of the top holdings in the FINX ETF is Paypal, which could be of particular interest to investors. Ginsberg also noted positive technical signals for the ETF, including an upward trend since October and strong trendline support.

However, it’s important to be aware that earnings reports could have both positive and negative impacts on FinTech stocks and the FINX ETF. Additionally, investors should consider the fund’s expense ratio of 0.68% before making investment decisions.

Overall, this earnings season could be an exciting time for FinTech stocks and investors looking for new opportunities in this growing sector. With several promising companies set to report their earnings in the coming weeks, it’s worth keeping an eye on this industry as it continues to evolve and adapt to changing market conditions.