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NEDBANK GROUP LTDNEDBANK GROUP LTDNEDBANK GROUP LTD

NEDBANK GROUP LTD

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NED trade ideas

NEDBANKNEDBANK H4 (240 Minutes) Timeframe Reasons For Entry: - 61.8 Fib Retracement - Wave "B" Correction Entry Everything Good Yearns Patience And Time Disclaimer: Trading stocks, commodities, futures and forex has a level of risk and may not be suitable for all investors. This Page has many charts to show setups and patterns for illustrative purpose and no set up given should be taken as a recommendation. This is purely what I see in the market, trading the setups is at your own discretion and risk.
JSE:NEDShort
by TheGreatestMarketAnalyst
1
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
Nedbank trading at resistanceNedbank has spent most of this year in a bearish downtrend trend. After creating a high of R316.50, Nedbank fell as far as R223.58. It has rebounded off the low, but the stock is finding itself at a key resistance level once again. The devil, however, is in the detail so let us analyse the chart. The first thing to note is the declining trendline. Nedbank bounced off this bearish trendline at the end of August and has done so again over the past two weeks. It is very fitting that it is also occurring at the same levels of the 100- and 200-day EMAs. The fact that Nedbank is stuck at such a key level indicates it is a strong area of resistance. There is also bearish order to the 3 EMAs while the Slow Stochastics recently had Nedbank at overbought. This stock is setting itself up for a good short trade. Action: Place a Limit order to SELL at R255 with a Stop Loss set at R272. I will aim to take profit at R240 and R225 respectively. Margin: 15% Gearing: 6.67x Gain: +78.43% Risk: -44.44%
JSE:NEDShort
by UnknownUnicorn3689126