Standardchartered
DEUTCHE BANKS NEAR TO FILE BANKRUPTCY by 2019DEUTCHE BANK DIDN'T BOUNCE MUCH AFTER 2007 CRISIS. It may do some reverse spilt like CITIBANK IN 2008-9 to prop up the share price and may some government bailout but in long term it will suffer a lot. All the hedge fund managers are piling up short position and share price may tumble below $4 soon. Upper limit resistance is around $20 for any upside bounce. The red resistance line shows that there is a strong possibility that by 2018/19 it will be ready to file Bankruptcy. Time has come to short the Bank if you have any grudges against it. But policy makers may ban shorting stock, but then you can do it by LEAP options but then they may ban that too :) So beware of your greed. Global economy is all time high but theses banks goanna fall one by one even before the next financial crisis hits the market.
Standard Chartered Bank (SCB) PLC near filing bankruptcyStandard Chartered Bank (SCB) PLC near filing bankruptcy
SCB could not hold the 2009 financial crisis low and made a all time new low. And barely surviving. Time has come to remove account from the bank as it will trade below $3 or even lower for sure in coming months. I used to work there and was one of my fav bank, but looks like time has come to an end...soon....
Standard Chartered – Bullish break lacks supp of strong volumes
Standard Chartered shares are flirting with inverse head and shoulder neckline and appear poised to close the day higher.
That would be confirm a bullish break and present a technical target of 831. However, as of now, that appears a big task given the banking concerns in Europe. Nevertheless, a bullish break on day end closing basis would open doors for 659.50 (Sep 15, 2015 low).
But bulls need to observe caution as we have a negative volume divergence i.e. volumes are sliding, hence the breakout could turn into a ‘fakeout’.