SBK trade ideas
Standard bankPrice consolidating ever since breaking out of the 120 resistance in November 2020.
Watch out for a break of 134/135.
SBK retracing to trendlineSBK looks posied to retrace, look to buy long at shaded zone. end of year volume./
JSE:SBK Standard Bank Last Push for 2020This is an odd time of year to look for any significant move but we just may have a last gasp attempt in some bank stocks to back up to previous support become resistance. After the covid drop, we have seen some accumulation in Standard Bank. Now after a sign of strength (SOS) in November we have seen a back up (BU) to the accumulation range that was formed. The breakout of the BU indicates that we could mark up to the previous support become resistance at between 16000 and 18000. This gives us a short term play to this level going into 2021. However, from there we are likely to be looking at the markdown to continue challenging the covid lows.
SBK - gaining downward momentumJSE: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.
Standard bank looking BullishBroke out the sideways range, broke through the 200d EMA as well. But 30wEMA still below the 60w EMA so I'll wait for now as well. But looks exciting
SBK short if it remains within channelJSE:SBK has been trading in a sideways channel since June. Two days ago, it seemed to be breaking out of the channel in an upward direction, but now it looks like it has found some resistance at the top of the channel. If it fails to break out the top and continues down into the channel, I will consider a short position towards the bottom of the channel.
SBK - Breakout BeginningSBK has a bounce off its channel plus a downside range contraction resulting in a break to the upside. This is still in the beginning of its breakout so possibly more upside to come.
JSE:SBK - Possible bear flag (Hourly)JSE:SBK - Watching a possible bear flag formation
Confirmation below 10203
TP 8570
STANDARD BANK - Potential Inverse Head & Shoulders formingI do not wait for the neckline to break before I trade a potential inverse head & shoulders pattern.
I rather use the retracement to the last shoulder as an early entry if it coincides with a demand zone.
The Daily chart shows signs of a possible opportunity of this materializing in the foreseeable future.
JSE:SBK Standard Bank Retest Breakout LevelSimilar to Nedbank and Firstrand, Standard Bank has seen a dramatic decline which ended in a selling climax (SC). We are now seeing a recovery back to the breakout levels. There is significant volume between R90 and R110 forming a last point of supply (LPS). A break above this could see a retest of the R160 level.
SBKJ, Short SND Set-upShort SND Setup, standard bank.
alright.. savings there look there very bearish, for the long run.
STANDARD BANK Bullish Set-upWell it is a wonder how long the bulls will last, -there is a bearish pressure in there, but bullish interests.
Long.
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Standard bankPrice breaking out of incline resistance on daily chart. If current risk-on sentiment sustains, we may see 120, followed by 130.
SBK - Support LevelWe may derive the following from the Daily SBK chart:
1. Price is currently approaching a key support level.
2. Whilst a bid may occur, it is important to remain aware of current market conditions - in which the support may not hold.
3. A bounce off the support may indicate a buy.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
SBK - LONGSBK testing the resistance zone as it looks to reverse.
The overall outlook for this stock sees it going long.
*Always do research before implementing trades in order to give you a clear view of how to approach your respective stock.
SBK - Struggling SupportWe may derive the following from the Weekly SBK chart:
1. Price is trading below our major weekly support.
2. A close below may signal further downside.
3. It is however, late to sell. Wait for an opportunity to present itself first - such as a retracement.
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
SBK - CrossroadsWe may derive the following from the Weekly SBK chart:
1. Price is currently trading slightly above a major support level.
2. Price will either, imo, bounce off support to the upside, alternatively create a further impulse to the downside.
3. Wait for an opportunity to present itself, either long or short. And as always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
Standard bankTwo bearish chart patterns on the Standard bank weekly chart...
1st is a double top technical chart pattern, which was confirmed last week, by the weekly close below the neckline support of R160.
2nd..With the same ‘neckline’ support of R160, is a descending triangle chart pattern.
Measured target for both patterns is the R120 area.
