STAN on the daily chart has put in a double top.
An inverted cup with handle pattern is forming down towards the 200 EMA.
Once price closes below the 200 EMA I will be looking for a short position. Around £5.40
Measured move (Size of Cup) will be my first profit target at £4.32 which is also an historical support level.
Stop initially at top of handle around £5.96.
Afternoon chaps and chapettes, we are looking at STAN forming a multi-year descending wedge, if we break out we should see some nice upside.
RSI has worked its way out of resistance from circa 2007.
Will go into more detail zoomed into the daily.
UK banks have the lowest exposure to Russia comparable to the rest of Europe, Standard chartered has no direct...
The blue zone is the monthly Kijun and price was gravitating towards it for 3 months now and 3 happens to be the magic number. Remmber kijunis also the 50% Fib zone. So i am looking for a bearish May. I want price to hit and reject the blue zone (preferably on the daily) with good volume. That little doji that closed off the week says a lot,small little candle but...
STANCHART can rally higher to the next TP (Fibo. P. 100%) after it forms as Wavy Tunnel Cross type. It's worth to take this opportunity with limited risk. :o)
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS.
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS.
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS.
I meant to publish this Friday, but got tied up with other things.
I was originally looking at this share as a long position early last week, it appeared in one of my stock filters for long positions.
Standard Chartered (STAN) is supposed to be the 3rd most shorted stock on the UK index by the big players (one being Steve Eisman from the "Big Short").
If you...
Failure at the rising trend line resistance coupled with the falling top formation on the daily chart suggests the share price is on track to test the 200-DMA support seen today at 687.31.
The 50-DMA has topped out as well and that adds credence to the bearish view.
