SBK 60min Long ideaA close above R171 on SBK can see a move to R175 from both a sym.triangle breakup and a horizontal box breakup
SBK trade ideas
STANDARD BANK - Possible ScenarioStandard bank is having a pull back along with the other banks .
Currently testing the 50dma .
Loss of this level opens the next support zone of R160-163 where i will look for longs.
Alternatively support is found here and we can regain R171.
Standard Bank - Held first supportSBK is probably has the best looking chart out of all banks currently, in my opinion. Whilst the other major banks have overshot levels to the downside, SBK managed to hold onto the first blue TL at around 160. ZAR weakness cold be a determining factor going forward, and we might see SBK push lower to second level of support, anywhere in the mid-150's (solid blue TL). For any longs, I would keep an eye on the second TL as a stop.
STANDARD BANKstandard bank posted ground breaking 18 billion Rand profit this past week which is massive
Standard Bank Showing upside to R200.00 with a major warningCup 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 but with the gap makes it a medium probability trade.
Nice Cup and Handle/ Ascending Triangle pattern for on SBKNice Cup and Handle/ Ascending Triangle pattern for on SBK. This one requires a bit of patience as it the C&H could morph into an ascending triangle pattern. Offerting an even tighter stop and a better R;R ratio. Pending a break above R182 for a 199.50 short term target. Its good trend continuation setup developing
SBK bullish channelSBK is still trading in a bullish channel and has bounced off its 50 day Moving average which also happened to be its bottom support channel line.
A move back up towards to upper channel resistance provides a 2:1 RR trade
Standard Bank almost ready for a good buy to R200 or Goodbye 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 the break. This can either go up or can crash heavily.
All we can do is wait and act accordingly.
Trend continuation breakout.Banks are seeming on a good run. Standard Bank had been amongst the leaders of the market. Trend continuation breakout on the share. I have no target in mind but a R170 stop loss is a really good one.
Standard Bank - Swing highThe banks continue to defy all odds and the current challenges in the country ...
Possible bull flag in play on Standard Bank , the test will be to break the recent swing high . R184
If bulls successfully capture the level, R206 becomes the measured move target on the long side.
Going upWait for 16460 rejection n buy SBK , as the rand getting strong the Exchange is expecting the banks in SA to out perform other banks in the world by growth not net balance, so be sure to see a rejection on that price level to 19625 price level a new high for standard bank SA..
Standard Bank - Short/Sell Target ReachedOriginal idea attached. Local events pushing banks sharply lower today. In recent weeks, the sector approached an overbought range, trading 2x to 2.5 std deviation over 200 days. JSE:SBK sell idea 08-Nov: I was looking for a push higher followed by an eventual 'rollover'.
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BANKS keep charging up! 👀ABSA is leading the race to the top with +33% up year to date.
Banks have been the sector to be in clearly, even with all the challenges our economy and world markets are facing.
Sell SBKThe following factors may support a sell/short: (1) a 'near overbought' rating, (2) a negative divergence between the price and the Relative Strength Index (RSI) suggesting the upward momentum is potentially slowing (3) trading between 2x to 2.5x it's mean over 200 days. Preferred sell around the last close or slightly higher (may overshoot on the upside). Exit is a daily close at or above the stop-loss.
TRADING LEVELS:
Entry: 17737c
Target: 16750c
Stop-loss: 18170c
Standard Bank upside to come to R186.29Falling 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 lived and the market could crash below forming a fake out. I'll nevertheless take the trade and only risk 1% of my portfolio...
Standard BankJSE:SBK seem to have found support at the previously noted area of value. The bank also came with operational update, maybe that was a catalyst.
$JSESBK - Standard Bank: Creepy Crawling Up The TrendlineWatch this video for some Quantitative and fundamental analysis on SA Banks youtu.be
SBK has found the going tough since bottoming in May 2020.
It has been the laggard in the local banking stocks but perhaps offers more upside opportunity.
The share price has been trending up a moderate slope trendline and as long as it does not break and close below the trendline on high volume, the share can continue its gentle climb.
What gives more confidence is while the share has made higher lows, the MACD has made lower lows and this condition is known as hidden bullish divergence.
Standard Bank falling with the rest of the major banks... 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.
Standard bankA bearish descending triangle chart pattern currently unfolding on Standard bank. I would 'short' for a move to 130.
