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BANK

History Often Repeats Itself. Down First, Then UpEstablished in 2001, Capitec has become South Africa’s fastest growing bank, and today has more than 7.3 million clients, 720 branches and over 11 000 employees. With shares listed for sale on the Johannesburg Stock Exchange (JSE) in 2002, the bank is renowned for its affordability and simplified model of banking, which has received superb buy in from clients of all income levels. Capitec already commands more than 20% of South Africa’s banking market share and has a market cap of almost R70 billion. Technicals I am expecting a repeat of the previous formation. All to often, support and resistance traders get caught buying when the highs break and selling when the lows break, only to watch the price turn and run against them. History often repeats itself and if you have a careful look at these two areas on the chart, you will see a lot of similarities. The structure that will form here is likely to break to the upside eventually but I expect a reversal soon for wave 3 before more upside will come.
JSE:CPIShort
by Linton_White
Wave 5 Up or Break Down for Nedbank?Nedbank Group is one of SA’s four largest banking groups by assets and deposits, with Nedbank Ltd. being its principal banking subsidiary. Nedbank Group is a JSE Top 40 company with its ordinary shares listed on the JSE since 1969 and on the Namibian Stock Exchange since 2007. The group's market capitalisation was R128 billion at 31 December 2017. Old Mutual plc is Nedbank Group's majority shareholder, with a 54.05% ownership of the group. The group provides a wide range of wholesale and retail banking services and a growing insurance, asset management and wealth management offering through four main business operations, namely Nedbank Corporate and Investment Banking, Nedbank Retail and Business Banking, Nedbank Wealth and Rest of Africa. Technicals This is a bearish structure formation so ultimately I expect a break to the downside. AS things stand now, I am expecting wave 5 to complete before the downside will occur. Price broke above the orange trend line indicated on the chart which leads me to believe that wave 5 is likely. There is however a possibility that a larger correction will form so be weary of reversal signs.
JSE:NED
by Linton_White
Dark Cloud Cover on SBKA dark cloud cover has formed on JSE:SBK which is a top reversal signal, so we can expect a downwards move. A dark cloud cover follows a preceding up trend where a red candle opens up above the previous day's green candle and closes 50% below it's body. This particular pattern has formed on quite a strong resistance level which solidifies the signal. We will look at entering a short position if it trades around the 17200 level with a target around the previous support level of around 16000.
JSE:SBKShort
by RossLarter
SBK Corrective Structure - Effort To BreakStandard Bank Group Ltd. is the ultimate holding company for the group’s interests and is a leading African financial services group with South African roots. The group is South Africa’s largest banking group by assets and currently operates in 20 countries in sub-Saharan Africa. Their strategic position enables them to connect Africa to other selected emerging markets and pools of capital in developed markets. Technicals Weekly: A predominant uptrend on SBK has been evident for a few decades now although there have been a few significant pullbacks. The current structure formation leads me to believe that we are in a large correction at this point in time. I expect some recovery soon and then will be looking for wave 3 of the correction to the downside. I expect this wave to complete on the support of the underlying trend where I will be looking for a reversal to enter the long. Daily: There has been a break of the downward trendline but I am not convinced of the reversal as yet. I will wait for a confirmation structure on a smaller time frame before entering the long for wave 2 on the weekly time frame.
JSE:SBKLong
by Linton_White