Hello 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
According 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...
I like ING a lot because of how good it is looking. the company has good fundamentals, overall opinion of Europe and other fundamentals scared investors but european banks where punished hard this year. And ING is rebounding nicely.
ING 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.
The 3rd trade in the challenge is the INGA short. Recent press surrounding a money laundering investigation headed by the Dutch authorities, coupled with a weak trend, make ING Bank a perfect candidate for a short position. As previously stated i do not take a physical short, I use put options to gain exposure to the downside. With almost 40% of my £800 capital...
resistance at 14.470 is holding strong, i think we will see a bottom here and if we can see some bullish momentum from this resistance it is possible we will see 17.9 in couple of months.
04/25/2018:
Price has found support on Warningline of TrendChannel up.
Will it hold again and push to:
- € 15,50 (target 1 for long)
- € 17,50 - 18,00 (target 2 for long)
or will it fail on retest and fall to:
-€ 11,50-12,00 (target for short)
We might see a long term of correction / consolidation. This can take some time however it's just a healthy market, when we go up we once have to go down as well. The indicators show the lower bottoms which results in a downtrend.
For questions please comment.
Peace out
