Trade Standard Bank with Unum Capital.
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Standard Bank tested it's 200-day SMA, rebounded, and is now looking to break below this level again. We are going to have to see the price stabilize before considering a new buy long position. The move lower over the last few months is in line with our 15 August view: " Caution To New Longs" as well as our alert (12 November: Channel Check) which warned around a change of trend from neutral to bearish.
Original Posts:
Caution to New Longs > https://www.unum.capital/post/standard-bank-trading-at-multi-month-highs-here-s-what-the-data-says-thursday-15-august-2024
Channel Check (12-Nov) > https://www.unum.capital/post/channel-check-standard-bank
SBK Daily Chart at Friday's close:
SBK Model reading as of Friday's close:
Previous Post: STANDARD BANK: Caution To New Longs - Thursday, 15 August 2024
Ticker: SBK
Real-Time: 15h50
Lester Davids
Analyst: Unum Capital
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