Tariffs have spurred a flight to safety, and banks can be a good place to be. Level of resistance going way back to 2022, and the stock decided to fall when it reached that level again. Things happen for a reason, investors have memories.
The question is: How much selling will take place? Not a prediction, but worst-case is pullback to ~$130; a 50% chance or greater that it will do that. A near-term trader like him would probably sell now, get back in later. A long-term, buy-and-hold investor would probably just accept the fluctuation.
He doesn't like the stock market, so he's looking for alternatives. This is one. Likes that there's the possibility of rates coming down in the US. His downside sell level is ~$86. First target is $95, second target is $100. Not correlated to stocks, so it will march to its own drumbeat (inflation, USD, and interest rate policy). Small dividend.
(Note the short timeframe.) Energy's been under a bit of pressure lately. Still nothing wrong with the chart. Could pull back a bit more, but the trend is up. Great company. Fundamentally, one of the best.