JonathanOtero7f

SBK - Short trade idea

Short
JSE:SBK   STANDARD BANK GROUP LTD
SBK made a pretty ugly reversal candle on Friday, although after our close things in the US seemed a lot smoother. A close below R132.50 could put it under pressure with R130 as first short term target and big target at R120. It has been the weakest of the lot, so should they all start moving lower SBK should be the 1st to move down.
Order cancelled

Comments

Thanks for the reply. Too late, i had placed an order on friday, Sell 12660 and close 12000. So far, so good.
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You were almost right!!! Any follow-up idea?
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@AlloysK, At the moment I would stay away from SBK as it has made a lower high and a higher low so techinically speaking this is in the middle of this bigger range. R120 is still a nice level to pick some SBK for the longer term.
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