Standard Bank has formed an M Formation. The nature of the analysis is down and is a sell as it's broken below the neckline and the price is below both the 20 and 200MA> So it looks like the next target is R150.00. FUNDAMENTALS Fundamentals also came out today and yesterday which could influence the price and the large candle today. Standard Bank Group...
JSE:SBK closing high for the week, with a bigger green candle than last week. The stock is trading near a 52-week high, we would like to see an upward move.
JSE:DSY is few Rands away, ~R7, to give all the YTD gains. Hectic, but did you see the JSE:SBK chart? JSE:STXFIN is also moving lower, at a quick pace. The sector is under pressure.
Cup 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...
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...
Falling 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...
JSE: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.
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.
It's hard to say that JSE:SBK is at an area of value. Financials are weak, it'll take a decent amount of buying to keep the stock above this "support" level.
A short has been entered on JSE:SBK based off of our momentum indicators. We are aiming for a target at around 12300 or adjusting the stop loss accordingly as the trade moves downwards.
JSE:SBK is showing downward momentum and is ready for a short position.
JSE:SBK weekly close will be interesting. Looking to go long if it close above this level.
Standard Bank is far from a “quality” company, and they arguably have several structural headwinds over the next several years. Nevertheless, the company seems to be trading at a discount. Standard bank suffered a +/- 55% reduction in their annual earnings per share from 2018 – 2020. This has resulted in the annual debt to EBITDA more than doubling from 2019 to...
Finally there's some action on JSE:INL BK"]JSE:SBK . I'm bullish on the financial sector, saw some good recoveries on bank stocks; firing in all barrels. and JSE:NED doing wonders. Unfortunately you can't have them all, but JSE:STXFIN will give you a good exposure to this sector.
JSE:SBK may break above the resistance level, if it does, it may trade higher. The price is above the 50EMA, which is also above the 200EMA.
I am bullish on the financial sector, major banks are trading above the 200EMA. JSE:SBK can push higher from here. It's a reasonable 1:3 risk:reward.
JSE:SBK has started showing some strong downward momentum with today's price action. I will keep an eye on this one for confirmation of a short as the stochastic, MACD and EMA's are all showing downward pressure.
JSE:SBK has broken through an upward trendline that it has been obeying since end of October. Today's price action is showing some strong downward momentum. The stochastic and the MACD have also crossed downwards, confirming the signal for a short position.