standard bank posted ground breaking 18 billion Rand profit this past week which is massive
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...
Wedge within a wedge - I just invented this pattern. I dub thee 'the wedgy pattern' (TM). Price has gapped under the inner wedge. Shaded area represents an important area for price to maintain. A break of outer wedge would confirm my trade thesis. Sell short. Historically, volume spikes seem to imply a start of a short-term downward trend. This holds true for...
standard bank retesting the trend line of the bull flag gearing for a move to the upside
Standard bank broke out of the range zone a move to the upside possible
Standard Bank a fall is possible on the break of the trend line
JSE:SBK Trying to break from massive falling wedge. Are better times ahead for SA banks?
JSE:SBK Some basic line chart to follow. Looks like $JSESBK is testing break out from cup and handle.
JSE: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.
JSE:SBK Making head and shoulders. Break bellow 17000 will probably open targets towards 14500/15000 area.
After a high volume selling climax in 2018 Standard Bank is now at the top of the Trading Range (TR) that was formed. A smaller distribution range has formed, there is a divergence with the Volume RSI and some selling volume. The expectation is that the price will move in steps to test the bottom of the TR.
JSE:SBK Stuck in the range testing bottom of it. Banks are looking weak. If it breaks lower more downside.
JSE:SBK Still inside range but if 18200 gets broken more downside to come. Banks are looking weak these days.
JSE:SBK Made double top around 19700. Currently testing bottom of the up trending channel started in October 2018. If it breaks bellow next target is neckline for double top around 18200 If that neckline is broken target will be around 16700. Around November/December low. Above 19700 and bulls are fully in control.
JSE:SBK Making head and shoulders, neckline still far but be ready.
JSE:SBK For resistance/support traders long $JSE-SBK here SL = 18100 FT =19500 ST = 20300/20500