ING trade ideas
Enter Long here - ING - Third flagpole in the makingI have been following this stock since the crash in march 2020.
I always pay attention when Dutch bank stocks tank. Main reason is that Dutch are super conservative when it comes to banking (in comparison to USA especially) and regulate the sector well. This is the biggest Dutch bank and it's chart is very similar with the nr2 ( ABN ) which I also have opened a position in.
As you can see in this chart the bounce off the last top level resistance confirms we are out of that bullflag channel and in a good position to make another bullrun.
The third flagpole since march should start right here and the rally has already begun today.
I believe the weak hands folded last friday and there is no selling power left. Onwards and upwards from here then!
My projection shows a significant upside to be reached in 11 days give or take (exact timing is always hard and will depend also on the broader market behaviour).
I will keep following the developments of this stock and edit this post if we see major deviation from the current trajectory.
Why you cannot go wrong with this stock long term IMO (even if this scenario fails):
-Leading Dutch bank that accelerated it's digital strategy by being ready with their tools and platform and by closing most of their physical offices (huge savings) during Q3.
-Well funded well capitalized banks are safe investments and core to the economy
-Q2 losses were lower than expected and revenue was higher than anticipated (see news)
-Q1 and Q2 all major COVID, oil, and fine related losses were booked and Q3 expectations are very positive.
ING ready for $6 or time for reversal? Welcome fellow tradingviewers,
This our second individual stock pick from 2020 and we have already been following it closely.
We have already opened up positions at the 50 weekly moving average and are now seeing some signals that could mean disaster for ING.
Today the Dutch bank ING announced that it will require everyone with more than 1 million on a account will need to pay -0.5% interest on that money. Following the Dutch bank ABN.
To let you guys in on our vision lets start analyzing:
Monthly :
- Huge bearish engulfing has closed this month which indicates more downside momentum.
- We tested the 100 MA on the monthly and rejected it indicating more downside momentum.
- We are on the verge of crossing bullish on the MACD indicating upside momentum.
- We tested and rejected the 0.382 Fib indicating more downside momentum.
- RSI neutral
Weekly :
- We rejected the 100 MA and it followed with 3 weeks of Bearish engulfing candles, indicating more downside momentum.
- We closed below the 50MA (confidence indicator) which indicates more downside momentum.
- MACD has just crossed Bearish indicating more downside momentum.
- RSI neutral
Daily :
- We have just rejected the 200 MA indicating more downside momentum.
- We have closed the daily candle as a Bearish engulfing candle indicating more downside momentum.
- MACD is negative, indicating more downside momentum.
- RSI is oversold indicating upside momentum.
In summary:
There are a lot of signals on why the price should go down. We can find more that for a bullish case therefore we are keeping our short open aiming at the 6 area.
In a week the earnings will come out. The earnings of other banks have stated various results where JPM did bad after great earning Deutsche bank did great with bad earnings.
Let's see where this is going the next few weeks will definitely be important!
This analyses is only showing you guys our vision on ING and should not be considered as financial advice. If you agree or find this analyses useful, don't forget to leave a Like !
If you have anything to say about this analyses you can do so in the comments below!
Kind regards,
Forallcrypto
INGA ING Cup and Handle long tradeHello Guys,
(Sorry for my English)
Just an idea for a long trade on INGA.
It looks like he create a beautiful cup and handle and the handle is between the 0.5 and 0.6 trend line of Fibonacci.
Cup and handle target => around 11.5
Fibonacci first target => around 12.22
It's not an advice, I just share my idea and I'm open to listening to your opinion.
Cheers
ING Group basic support increase expectationAccording to the shown figure, I expect ING Groep N.V. stock to rise in the coming days. Keeping in mind most investors will use a support-resistance approach, I have conducted one myself. As shown, the channel between support and resistance lines has been relatively constant overtime, with enough hits or "approaches" to both lines, after which short-term reversal of the trend kicks in.
I also searched for a reason for the small breakout that happened before the stock of ING picked up the channel I have described. I conducted a simple trend analysis (red lines). What might have happened is that investors conducted such an analysis at the time, which would have resulted in a three point hit on the support trend. This would have given investors the confidence to engage in massive investments on the stock of ING, as a result of their plots being accurate.
Let me know what you think! I'll keep on posting ideas in the near future!
May the market favor you.
Shortterm ING GroepING is projected to hit 10% ROE and therefore projections for ING were recently upgraded to €14-14,50 by several rating agencies/banks.
It's currently in an uptrend with fundamentals looking decent (RSI strong, MACD not too high).
On medium term (daily chart) RSI is low to medium and the MACD is about to cross into an uptrend.
I have opened a 17/5 11C position.
