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STANDARD BANK GROUP PREFSTANDARD BANK GROUP PREFSTANDARD BANK GROUP PREF

STANDARD BANK GROUP PREF

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SBPP trade ideas

STANDARD BANK (SBK)It’s not my favourite bank share but a few reasons to look at it. Just keep in mind, Bank stocks are traditionally very sensitive to Local economic conditions. Weekly Chart : It’s been in a channel since Apr20 and looks like its just started Elliot Wave 5(weekly chart). A bit late in the game but would have like to get in on wave 3! Since Sep20 it has been in an uptrend and Mar21 started its down trend. It passed the 62fibb and the candle wick nearly touched 76fibb. Incidentally, the Elliot wave 5(weekly chart) target shows potential to R163. On the daily chart : I’ve had this share on my watchlist since it started its mark down phase in march21 and went to a low of R114 (4may21). RSi was also at the bottom and shows a reversal around end March -> end April21. Moving Avg as of 25/5/21 – (14h00) : 50sma = R 123.07 65sma = R 126.28 (candle wick went through it today) 200sma = R 121.41 If it keeps on this trend, we have the next resistance at R129.40 then again R133 (62fibb). Has to break R125.59 (38fibb) convincingly(i.e. not a "fake breakout") and let’s hope she goes to 62 or 76/78 fibb. I think this is a good long-ish termer for the next few weeks / months till it hits it potential target on the upper line of the channel (eventually). I was planning to buy at R119 and then had to opt out just after the financials were released. I was waiting for it to finalise its downtrend. Getting a nibble in at R119 would not have been a bad idea, and now that its at least looking more positive, the potential looks even better.
JSE:SBKLong
by agentfielding
Pairs Trade Idea Update: Long SBK /Short INLI promised myself I would also focus on a market neutral strategy. Yesterday (Pre-Market, Monday 10-May) I add 1 idea to my report: Long Standard Bank (SBK)/Short Investec (INL). As of 2pm on Tuesday afternoon, the pair was higher by 4.84% over the 2-day period vs -1.6% for the All Share Index for the same period. It closed +4.33%. Market neutral strategies are used by traders to reduce risk while simultaneously attempting to generate alpha. To achieve this, traders make use of pairs trades which involves matching a long position with a short position in two stocks with a high correlation. I'll continue to monitor for opportunities in this strategy.
JSE:SBK
by LD_Perspectives
SBK - Target Reached - Now Looking ForwardTarget Reached. Looking Forward - Extract From My Upcoming Weekly Report (29/03-02/04) The share traded into our accumulation zone, which was the range support and the 200-day simple moving average, from which we saw a 700c rebound 11900c to 12600c (trade idea target range). The declining 8-day EMA may now act as a 'first' resistance level. Expect consolidation around the 8-EMA with a possible scenario being a moderate pullback toward the mid-point of Friday's trading range. If you missed the buy/long, only look to enter if the share pulls back and consolidates. Shorts/sellers, using the 21-EMA near 12900c-13100c as a distribution area. Chart Time Frame: Daily
JSE:SBK
by LD_Perspectives