$CIB Bullish short term view At this moment I see some technicals indicators tell us something up; first, the RSI got the trigger already, and otrher two almost done, MACD need more road, but the short term bearish channel maybe has been broken too.
CIB trade ideas
Buy $CIB - NRPicks 28 MayBancolombia S.A. offers various banking products and services to individual and corporate customers in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica, and Guatemala. The company operates through eight segments: Colombia Banking, Panama Banking, El Salvador Banking, El Salvador Banking, Guatemala Banking, Trust, Investment Banking, Brokerage and Off Shore.
Colombia had an intense month with demonstrations against the government and the tax reform that ended up being withdrawn but opened the way for new petitions showing the widespread discontent of the Colombian population and no doubt the uncertainty brought concern in investors who decided to pull out and therefore shares of Bancolombia and other Colombian companies fell, however, Bancolombia's financials remain strong and should see a gradual recovery in asset quality, aided by an accelerated digital transformation, which should help profitability
- Value
- P/S 1.60
- P/B 1.03
- Dividend yield 3.68%.
Buy $CIB- NRPicks 21 MarBancolombia S.A. offers various banking products and services to individual and corporate clients in Colombia, Panama, Puerto Rico, El Salvador, Costa Rica and Guatemala. The company operates through eight segments: Banca Colombia, Banca Panamá, Banca El Salvador, Banca Guatemala, Trust, Investment Banking, Brokerage and Off Shore.
To enter in context, GDP in the fourth quarter recorded an annual negative variation of 3.6% and a year-on-year contraction of 6.8%. This result shows that economic activity experienced a process of clear improvement with better-than-expected results. As for the pandemic, Colombia has not yet exceeded the most difficult levels but investors have good expectations.
As for the company reported losses per share of -0.309 and quarterly revenue of $1.07B
- Value
- P/S 1.60
- P/B 1.03
- Dividend Yield 3.68%
Technical:
- Support at $32
- Average RSI levels
- MACD Level (12, 26) -3.04
