“UBS Group agrees $3.25bn rescue deal for rival Credit Suisse” reads the headlines. Time for Switzerland to bring out the bunting? Or was this one deal UBS should really have said no, not interested.
There are 10 days for the stock market to undo the largest bearish engulfing candle the monthly UBS Group chart has ever printed.
Notwithstanding the candle the highest recorded negative divergence with price action has printed. A record 9 oscillators have printed negative divergence with price action since records began.
Where is price action going? On the above monthly chart there is a projected 50% correction for share price following the rising wedge breakout and resistance confirmation.
On the 3-month chart below a Gravestone DOJI candle is printing. This really is the mother of all Gravestone DOJI candles. Why? For one it is printing under a continuation pattern following the 2007/8 banking crisis. The 2nd is the size of the candle itself, there is a huge amount of selling pressure under resistance. IF this candle confirms by the end of April, IF, then the UBS Group fails as an entity. Price action will fall to 1.90, Credit Suisse levels.
Ww
3-month chart
Sources:
www.ft.com/content/9...05-b885-7771d305721e
There are 10 days for the stock market to undo the largest bearish engulfing candle the monthly UBS Group chart has ever printed.
Notwithstanding the candle the highest recorded negative divergence with price action has printed. A record 9 oscillators have printed negative divergence with price action since records began.
Where is price action going? On the above monthly chart there is a projected 50% correction for share price following the rising wedge breakout and resistance confirmation.
On the 3-month chart below a Gravestone DOJI candle is printing. This really is the mother of all Gravestone DOJI candles. Why? For one it is printing under a continuation pattern following the 2007/8 banking crisis. The 2nd is the size of the candle itself, there is a huge amount of selling pressure under resistance. IF this candle confirms by the end of April, IF, then the UBS Group fails as an entity. Price action will fall to 1.90, Credit Suisse levels.
Ww
3-month chart
Sources:
www.ft.com/content/9...05-b885-7771d305721e
Trade active:
lower high prints on weekly
Comment:
At strong resistance.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
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Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR