More downside for SBK?More downside seems possible SBK as the daily chart is showing a break from a bear flag technical chart pattern, with a measured target around R150
SBPP trade ideas
$JSE-SBKJSE:SBK
Hitting some big support, maybe time to bounce form here at least for few days.
On top of that could be false break as well.
Equities | Pairs Trading Opportunity | +SBK/-FSREquities | Pairs Trading Opportunity | +SBK/-FSR
Price back at the swing lows with a bullish divergence as per the RSI.
SBKStandard Bank | The head and shoulder technical formation remains in play as the price has not breached the highs of the right shoulder. A breakdown below the incline support or 17169c would trigger this technical pattern. The H&S target current sits around the 15621c level.
SBK - Enroute 1st TargetWe may derive the following from the Weekly SBK chart:
1. Price appears to have finished a correction. Last week's bearish candle shows promise of this.
2. Our first target remains in place at R160.
3. Continue to exercise patience.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
Standard short- Standard BankOur Mid-term budget showed just how bad things are and we saw the currency blow out above R15.00/$. We also have Moodys tomorrow and there is a good chance that we may get bad news from them.
Technically, the SBK chart has formed a bearish head and shoulders which could see the price drop quite a long way. I have entered our short (for SMART portfolio clients) at 175.50 with a stop loss at 184.00. I am only risking 2% of my portfolio. I am targeting 155.50 however, I will play this one by ear. robp@unum.co.za
$JSE-SBKJSE:SBK
Making head and shoulders.
Break bellow 17000 will probably open targets towards 14500/15000 area.
Another Bank Another Dollar!Last week from the 14th of October right up to the end of the week the stock seemed to be respecting the weekly Tenkan level which acted as support. We however saw a small breach of this level the last day of the week,though the average volume was somehow less. We can therefore conclude that the weekly Tenkan level is our area of focus. If on Monday the 21st we have a close above the 17942 area we take the long.
Entry: if we close above 17942 on Monday ( 2 positions)
SL: 17555
TP1: Daily SSB/Weekly Kijun 18738
TP2: Weekly SSB 19211
Risk Management is King
SBK - Short ContinuationWe may derive the following from the Daily SBK chart:
1. Price appears to have completed a correction and is now on support.
2. A push to the downside is, i.m.o, probable after a slight move higher.
3. Monitor price action and be patient.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
SBK longSBK is in a clear uptrend,the price has moved into the 200EMA support on the weekly chart,Prudent to look for a consolidation on the daily chart before going long.Stop loss can be below the 200EMA.
SBK Trade IdeaBuy/Long SBK at current levels 17653c or better
Stop-loss: 17400c
Take Profit Target: 18150c
SBK: will the ascending triangle support upside potential?Will the ascending triangle pattern aim for 18840? Just above the 200-day simple moving average.
OBV increasing - indicating that money is flowing into the share.
Setup remains risky.
Time to exit: +/- 13 September 2019
SBK Downward bounceJSE:SBK is bouncing off of a support level which is also the 50% fibonacci retracement level, so we can expect a downward move if it confirms the short position.
Pair trade: ABG likely to outperform SBK?Idea whereby going Long ABG and simultaneously going short SBK. Market neutral trading strategy.
A conflux of technical indicators supporting a bullish bias (ABG to outperform SBK)
Crossing above its 50-day simple moving average.
Testing its 200-day simple moving average.
MACD bullish crossover - first of such a signal in the last 28 days.
Bullish parabolic SAR trend.
Bullish Heikin-Ashi trend.
Time to exit: +/- 11 September 2019, with the option to extend the time to exit.
SBK - Short Going WellWe may derive the following from the Weekly SBK chart:
1. Price has dropped significantly (See linked idea).
2. Some profit can be taken.
3. It is possible that price may consolidate for a while before reaching the 160 support level
4. Keep holding short, but don't leave money on the table.
5. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
Standard Bank: Wedge pattern breakingRising wedge pattern on the Weekly chart.
Last week we got a break to the downside of the wedge pattern, with the week's candle closing below the wedge pattern.
This week we look set to close below that level again.
*I'm short at R189, targeting a price below R175.
Hammer & Bullish Engulfing on SBKJSE:SBK is showing a hammer followed by a bullish engulfing. If it breaks through the fractal level from the 11th of July, a long position could be on the cards.
SBK - Heading Down?We may derive the following from the Weekly SBK chart:
1. Price broke its weekly uptrend.
2. Multiple rejections occurred at the 618 fib level.
3. Price i.m.o should continue to fall to 175 and then 155.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
SBK - Near Entry PointSupport - R189 -------Enter R190 to R194.
Stop loss - R180.
Upward trend to about R206 to R210
