Is the Finnish Bank OmaSp about to collapse?
Updated
The charts are suggesting caution. On the above 10-day chart:
1) Double top in price.
2) Regular bearish divergence.
The higher the timeframe you look the more ugly this divergence is.
Laterally I’m wondering if the small banking crisis that hit the US is now venturing to other parts of the world. OmaSp does not appear to be in isolation.
There were some tell-tell signs before the collapses of Silicon Valley and Signature Banks. (No one in Europe heard of those banks!) They were:
1) Strong bond market exposure.
AND
2) Same TA as above.
“OmaSp has been active in the bond market since 2013” says their website. Very true..
Until recently you could get the information on their Bond market exposure.. You click on the WebPage today and you get:
omasp.fi/en/financing-and-bonds
“Unfortunately the webpage you were looking for can not be found”
Oh dear…
Ww
Type: Trade, short
Risk: <=3%
Timeframe: Candles closing at 19 and under.
10-day Silicon Valley Bank
before
after
10-day Signature Bank
before
after
1) Double top in price.
2) Regular bearish divergence.
The higher the timeframe you look the more ugly this divergence is.
Laterally I’m wondering if the small banking crisis that hit the US is now venturing to other parts of the world. OmaSp does not appear to be in isolation.
There were some tell-tell signs before the collapses of Silicon Valley and Signature Banks. (No one in Europe heard of those banks!) They were:
1) Strong bond market exposure.
AND
2) Same TA as above.
“OmaSp has been active in the bond market since 2013” says their website. Very true..
Until recently you could get the information on their Bond market exposure.. You click on the WebPage today and you get:
omasp.fi/en/financing-and-bonds
“Unfortunately the webpage you were looking for can not be found”
Oh dear…
Ww
Type: Trade, short
Risk: <=3%
Timeframe: Candles closing at 19 and under.
10-day Silicon Valley Bank
before
after
10-day Signature Bank
before
after
Note
“US and German bond yields at multi-year highs in continued global selloff”ft.com/content/a2b58071-23a2-4241-b3cc-f2c237124073
Guess which bank cannot participate in the sell off until 2025?
Note
Price action has exited the flag pattern. The exit confirms on December 4th whereby a 10-day candle body shall print.Trade active
30% collapse so far amidst potential criminal investigation.<<<<<<
“Finnish Regulator to Probe Oma Savings Bank Over Potential Securities Market offences”
It goes one:
“The Finnish Financial Supervisory Authority requested permission from the police to conduct a preliminary investigation into Oma Savings Bank OMASP over potential securities market offences.
Oma Savings Bank said in a Friday release that the regulator will also examine if there is any need to impose administrative sanctions.
The bank noted that it will fully cooperate with the authorities to help clarify the matter.”
>>>>>>>
Remember on the original post their bond market exposure webpage was completely missing?
Isn't it interesting the chart was highlighted problems months ago.
Note
Now 40% in correction.Don't know what point we call this a collapse, but 40% would be enough for most.
Should the business survive, a recovery should not be expected until 2028.
Trade active
Is a deeper correction about to print?
Price action just broke through the 15 area of support like it did not exist.
It is another 35% correction until the next support.
Trade active
The dive to the basement continues.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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