Daily chart. Short shelf life so far on this play. Looking for this to hold channel and break current downtrend (white line). MACD still needs a it of work but its starting to curl, RSI looks great. Holding and adding to this play in this area of support. Sell signal if lower channel support fails.
$SHG PEAD projected a neutral outlook for the stock after a Negative over reaction following the earnings release placing the stock in Drift C
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I found tihs pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 63%
TARGET (EXIT) PRICE = 24.85 USD
BREAKOUT (ENTRY) PRICE = 24.60 USD
DISTANCE TO TARGET PRICE = 1.00%
EMERGED ON = Oct 09, 10:00 AM (EDT)
CONFIRMED ON = Oct 09, 10:00 AM (EDT)
WITH CONFIDENCE LEVEL = 76%
Once the price breaks out from the top pattern...
Better fundamentals than I can find in Canada with a solid moat, payout ratio and good dividend payment. SHG is getting close to it's lower monthly range. This may still drop a bit lower but I will be averaging in on my position.
Shinhan Financial Group Co., Ltd. engages in the provision of management and financial support services to its subsidiaries. The company was founded on September 1, 2001 and is headquartered in Seoul, South Korea.