Šiaulių Bankas (SAB1L) | Wait For a Breakout For Good Profits!Hi,
Šiaulių Bankas is the largest Lithuanian capital bank, a steadily and consistently growing financial partner, paying special attention to business financing and consumer financing solutions. Šiaulių Bankas serves its clients in 60 client service units in 37 cities and towns throughout Lithuania. The Bank was established in 1992. Šiaulių Bankas Group includes subsidiaries, which operate in the fields of leasing, life insurance, and real estate.
Technically, the price of SAB1L has climbed back to the major resistance area which stays at around €0.54 - €0.56. It has held the price since 2010. So, in 11 years the price hasn't seen higher prices than the prementioned level but luckily it has drawn a bullish chart pattern and we are really close to getting a breakout of that.
The bullish chart pattern is Inverted Head and Shoulders and it gets activated after a Monthly or Weekly candle close above €0.54 - €0.56. Actually, it gets activated after a candle close above the chart pattern neckline (we have a tiny breakout of that) but still, a bit safer would be to wait just a little bit more.
IF we get a Weekly or Monthly candle close above the mentioned level then basically there are no obstacles for price growth. Wait for a candle close, wait for a small throwback and the targets are:
1) €0.715 - around 35% profits
2) Chart pattern target €1.000 - around 90% profits
3) For holders - 150%+
Currently, there is also a bit riskier scenario on the table:
We have a 4H and Daily candle close above the counter-trendline, supported with 4H and Daily EMA50. So, you can SLOWLY start to add some positions but keep in mind it is risky because the price approaching multi-year resistance level at €0.54-€0.56. To buy from the current prices you should have some info from inside :D
Stay healthy,
Vaido
