As we can see on the following chart, OMXCOP:DANSKE is moving in a textbook ascending triangle. If this plays out we may have a perfect cup and handle in the making boys and girls, meaning that a clear uptrend indeed is in the making from a TA aspect. Due to all the other aspects OMXCOP:DANSKE may indeed still be in trouble due to the money laundering and other recent bad news. But is this already priced in? We've already had a 60-70% retrace since the shit hit the fan.
It took a little for your plan to pan out, but in the end you got there.. Good catch. I'm still holding @ 96 (:
I'd keep an eye on Astralis over the next few years if you're into e-sports. They're right there alongside Danske Bank on my "buy in the next 6 months or it'll pass by"-list
Astralis I see being a major player in the e-sports niche for many years to come, being able to get in now @ 7-8 kr per share is cheap, but might get even cheaper over the first couple years. Keep an eye out for good buying opportunities, same goes for Danske.
Stilster
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@SeedsForTheFutureOfHumanity, indeed, was so close to the bottom, needed another legdown before this positive movement. I had my entry at about 100,- so not too bad. Will look out for Astralis!
UnknownUnicorn560420
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It is also in the range of a massive Cypher pattern.. 3 huuuuuge long signals all in one area
Stilster
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@SeedsForTheFutureOfHumanity, ty for highlighting!
UnknownUnicorn560420
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@Stilster, You got it - Tentative buyers may want to wait for the quarterly report and dissect that before making a move
- A drop in earnings and increase in expenditure is expected due to increased investments into anti money laundering initiatives, and general uncertainty. Although recent fluctuations in interest rates could hold a little gift in terms an increase in restructured loans, adding significant long term value
As for the Cum Ex scandal, I think slashing the price from 350's to sub 100, is to be considered "priced in" - Albeit the old saying "try not to catch falling knives" applies to this case.
During this time, the majority of the management staff of the bank has been replaced, and I believe there are only a few stragglers remaining to be phased out late 2019 and early 2020.
If you can afford to hold them for +10 years, the current price could potentially be covered by dividends & selective short selling. It is still the biggest bank. It is stable, has incredible infrastructure and deep deep roots in the scandinavian zone. Not to mention all them beautiful TA signals, all lined up like rockets on new year about to take off.
UnknownUnicorn560420
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@SeedsForTheFutureOfHumanity, "from 350's to sub 100," - Whoops, 250*
UnknownUnicorn560420
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Great minds think alike
Stilster
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@SeedsForTheFutureOfHumanity, well then, yesterday DANSKE broke out of the ascending triangle, only supporting a further push downwards. The beaty of TA is when the predictions play put correctly. Nor only because it’s something you want it to do but the fundamentals are strong. As stated earlier DANSKE broke out, most likely due to unweary sellers worried about next earning. I have not set a stop loss, stupid? Maybe... but some support is to be found at 94 and stronger support at around 90. I honestly do believe it’s close to bottoming out and finding an uptrend. So for the longer perspective DANSKE stays potentially positive from my side.
Happy trading!
UnknownUnicorn560420
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@Stilster, My TA is based on extreme long term + 5 years at least, so I'm not at all worried about a further drop. In fact i'll use the eventuality to add to my position. In my opinion this is a steal at this price, anything further is just gravy at this point.
Stilster
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@SeedsForTheFutureOfHumanity, very much agree on the long term aspect.
I'd keep an eye on Astralis over the next few years if you're into e-sports. They're right there alongside Danske Bank on my "buy in the next 6 months or it'll pass by"-list
Astralis I see being a major player in the e-sports niche for many years to come, being able to get in now @ 7-8 kr per share is cheap, but might get even cheaper over the first couple years. Keep an eye out for good buying opportunities, same goes for Danske.