Standard Bank has formed an M Formation. The nature of the analysis is down and is a sell as it's broken below the neckline and the price is below both the 20 and 200MA> So it looks like the next target is R150.00. FUNDAMENTALS Fundamentals also came out today and yesterday which could influence the price and the large candle today. Standard Bank Group...
Cup and Handle formed on Standard Bank. The price broke above the brim, then it came back down to give a conservative entry. 7>21>200 RSI>50 Target R200.00 WARNING The biggest issue is that a GAP has formed during the formation. Statistically, gaps close 70% of the time, which means we can expect downside to come in the next few days. Look the bias is bullish...
Cup and Handle has clearly formed on Standard Bank. I don't like this Bearish engulfing candle that formed. The price didn't break above the brim level so we will have to be a bit patient before buying. We then have other bullish signs in the meantime. 7>21>200 - Moving Averages RSI>50 - Target R200.00 CONCERNS: Obviously we are not going to buy until we get...
Falling Wedge has established on Standard Bank. Price has just broken above, but it's early days. 7>21 but 200 is still flirting with the previous Moving averages... My first target is R186.29. CONCERNS: The JSE is mirroring the upside of the American markets (with the good earnings results) With the Dollar strengthening again, this bull run could be short...
Standard Bank is showing major downside to come... Inverse Cup and Handle and lower RSI highs. We are already short Firstrand but it looks like all the major banks wants to follow.
Wedge within a wedge - I just invented this pattern. I dub thee 'the wedgy pattern' (TM). Price has gapped under the inner wedge. Shaded area represents an important area for price to maintain. A break of outer wedge would confirm my trade thesis. Sell short. Historically, volume spikes seem to imply a start of a short-term downward trend. This holds true for...
Title: Sugar Futures (SBK2022), H4 Bearish Reversal! Type : Bearish Reversal Resistance : 19.40 Pivot: 18.99 Support : 18.34 Preferred case: Prices are on bearish momentum. Prices might potentially move from pivot level of 18.99 in line with 100% Fibonacci projection and 50% Fibonacci retracement towards the 1st support level at 18.34 in line with 50% Fibonacci...
Well, everything on the globe is being marked down, and this includes SA banks & financials, despite much improving underlying fundamentals. Prices for all of them are now under their 5EMA which is under their 15EMA. In this weak sentiment environment I'm looking for them to give back another 5% or so before bargain hunters like myself can't resist the risk. ...
As for the other banking stocks, Standard Bank is looking to markup. The strength has been clear since December - see post link below. The pullbacks have been shallow and volume increases on up moves have shown buying interest. Now it is time to finalise the expected move back to R160.
SBK looks posied to retrace, look to buy long at shaded zone. end of year volume./
This is an odd time of year to look for any significant move but we just may have a last gasp attempt in some bank stocks to back up to previous support become resistance. After the covid drop, we have seen some accumulation in Standard Bank. Now after a sign of strength (SOS) in November we have seen a back up (BU) to the accumulation range that was formed. The...
Similar to Nedbank and Firstrand, Standard Bank has seen a dramatic decline which ended in a selling climax (SC). We are now seeing a recovery back to the breakout levels. There is significant volume between R90 and R110 forming a last point of supply (LPS). A break above this could see a retest of the R160 level.
SBK testing the resistance zone as it looks to reverse. The overall outlook for this stock sees it going long. *Always do research before implementing trades in order to give you a clear view of how to approach your respective stock.
JSE:SBK has broken through the descending resistance and formed a bullish engulfing candle pattern yesterday. Because of the strong momentum, I decided to enter a long position at opening this morning.
A 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...
Standard 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...
Will look to allocate off the shaded levels - Shorting if price starts to trade below shaded level - I have exposure to Financials for upside(x3), need to re-balance for downside risks. ie create synergies with open positions - I have a bit of a bias to the down-side here, thinking JSE:MTN will drag JSE:SBK. Last time(2015) this was the case, in that instance the...