Šiaulių Bankas is the largest Lithuanian capital bank, a steadily and consistently growing financial partner, paying special attention to business financing and consumer financing solutions. Šiaulių Bankas serves its clients in 60 client service units in 37 cities and towns throughout Lithuania. The Bank was established in 1992. Šiaulių Bankas Group includes...
OMXVSE:TEL1L 3% below ATH, when BalticstockInvestor warned that overbought conditions are seen
Now RSI is only 60 compared to 90 in end of July, thus bulls can start pumping up the already expensive stock, which seems to be viewed as safe haven in Baltics.
Drop to 200 SMA would mean a 12% decline in today's stock price, which is not so bad considering strong...
Siauliu Bank +4.85% intraday, but still below 200MA and 50MA is below 200MA as well.
RSI went parabolic today reaching 79.77 (indicating oversold condition)
But something is telling me that it is not over yet for #SAB1L
Possibly rally will extend tomorrow before the weekend
Some indicators tell to take profit from recent Auga rally:
RSI at all time high 82.43
Recent moves up have been parabolic
On bullish side 50MA (0.365) passed 200MA (0.351), but gap from last closing price (0.436) is getting wider, now price is 20% above 50MA
Strong support 0.27 - 0.31
1) Previously worked strong support level (2009)
2) Fibonacci retracement 62%
3) Fibonacci Extension 162%
4) 50% drop from the recent high
5) Minor trendline
-SAB1L 200MA getting closer to 50MA
+Last time 50MA was above 200MA for nearly 3.5 years, now it is about 0.5 year
+RSI is at the lowest level during this year
+P/E at 5.46 is one of the lowest in NASDAQ Baltic
+ Price to Book value 1.09
Possibly good entrance point?
My guess is YES, keeping in mind last dividend yield of 6%
Great company , with over 200 million clients , over 20 years in Lithuanian market.
The scandal released in the newspaper regarding bad management of highest rank responsible person. ( removed from position and changed in one day)
We can assume somebody leaked information that dividends will be increased and year before we see a pretty sharp move up in price...