Standard Chartered Short Idea
STAN on the daily chart has put in a double top.
An inverted cup with handle pattern is forming down towards the 200 EMA.
Once price closes below the 200 EMA I will be looking for a short position. Around £5.40
Measured move (Size of Cup) will be my first profit target at £4.32 which is also an historical support level.
Stop initially at top of handle around £5.96.
An inverted cup with handle pattern is forming down towards the 200 EMA.
Once price closes below the 200 EMA I will be looking for a short position. Around £5.40
Measured move (Size of Cup) will be my first profit target at £4.32 which is also an historical support level.
Stop initially at top of handle around £5.96.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.