$JSENED Breakout after consokidationAfter a 5 month consolidation period, Nedbank has broken out and is now headed to a target around the 16500 area.
NED trade ideas
NEDAs I mentioned in my pre-market note, keep NED in mind. Are we LONG? Are we SHORT? Get in touch to find out.
$JSENEDNedbank building a multiweek consolidation. Buying the bottom of the range is the the best idea for now. No imminent breakout here.
Triangle Breakout on NEDJSE:NED is currently breaking through the bottom of a triangle chart pattern. I will wait for confirmation on the close of current candle, but if confirmed, we could be looking at a downward move towards the support area around 10000
JSE:NED Nedbank Following the TrendFollowing the strength in Nedbank and, financial stocks since November 2020 we are now seeing the markup phase starting. Nedbank has show strength as the trading range has resolved. The markup should take us back to the previous breakout levels.
$JSENED Nedbank. Strong moveNedbank made a strong move on Friday, and although this chart is open for interpretation, this could either be a pennant break to the upside, or a bullish looking flag building. Either way, 16500 looks like a possible future target.
$JSENED3 months consolidation in Nedbank. Expecting numbers that are not as bad as expected from the banks. Buy the breakout.
NEDAn extract from my research report for 25-29 January 2021
Nedbank Group (NED) | In addition to our ABG short/sell idea published last week, we also note it's peer NED breaking down from it's incline support and sideways consolidation range. This follows a short period of lower highs and sees the price losing it's 8 and 21-day EMA while daily RSI has shifted from neutral to weak. Here, traders could look to short any rebound and failure of the 8-day EMA, targeting the incline support extending back to March 2020 which for now comes in at R114 down to R111.
We need to talk to whoever is praying for NED...NED remains stubborn in its refusal to cross below 12069, leaving us wondering if we can get the contact details of the praying granmother that is holding this shareprice up. What do you think?
$JSENED Nedbank. Consolidating after a terrific runNedbank appears to be consolidating in a very narrow flag formation after a very good run in November. Watch for a flag breakout in the coming weeks. No position. Targets will become clearer when we break this flag pattern to the upside.
Nedbank looking bullishHas the financials recovery started? Nedbank certainly looking bullish, up about 102% from the lows of March this year. Perhaps the MPC meeting could push financials one way or the other on the repo announcement today. The Fini index is also looking like the worst is behind us. Though the bearish sentiments aren't completely out the door yet. It's a "wait and see" from on the financials.
JSE:NED Nedbank Correcting the Crash?Nedbank is breaking out potentially to correct back to 22000 to 24000 after the Corona Crash. There is some volume in the up moves that is gaining momentum. If you are patient enough you can wait for a pullback to the breakout level but if you have some FOMO this could be a time to get on the train just know you may have to sweat the pullback.
NED triangle breakoutJSE:NED has broken convincingly through the top of a triangle pattern and could be on its way up for a nice move. The next significant resistance is around the 16000 level which has been a support/resistance level since 2013.
