ABG...... I AM STILL MAINTAINING MY LONGSI was studying the momentum to the upside I am pretty much convinced that the elephant stepped in the pool(liquidity) and the corrective move to the downside it solidifies my long position and I have my heat wave entry instrument I would be looking to take more positions
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3.04 USD
1.17 B USD
12.07 B USD
About Absa Group Limited
Sector
Industry
CEO
Kenny Fihla
Website
Headquarters
Johannesburg
Founded
1991
ISIN
US00400T1025
FIGI
BBG000C14909
Absa Group Ltd. engages in the provision of financial services. It operates through the following segments: Product Solutions Cluster, Everyday Banking Relationship Banking, ARO RBB, CIB, Head Office, Treasury and Other Operations, and Barclay's Separation. The Product Solutions Cluster segment offers product solutions to the retail consumer. The Everyday Banking Relationship Banking segment includes day-to-day banking products and services of banking services to those requiring financial solutions. The ARA RBB segment involves retail, business banking and insurance products and services for individuals, small to medium enterprises and commercial customers. The CIB segment provides solutions to meet clients' needs by delivering specialist investment banking, corporate and transactional banking, financing, risk management, and advisory products and services. The Treasury and Other Operations segment consists of non-banking activities and includes investment income earned by the Group. The Barclay's Separation segment focuses on rebranding, technology, and separation-related projects. The company was founded in 1991 and is headquartered in Johannesburg, South Africa.
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Absa showing downside to come to R120 but I am not buying it LOLOk so I am taking this analysis with a pinch of salt.
The JSE Top 40 is showing major upside to come. And yet the Banking sector is showing conflicting signals.
I mean we have an Inv Cup and Handle.
We have a strong downtrend (safety line) - confirmed
We have price<20 and 200MA - Making it a
Absa: The Longer-Term ViewAbsa lost the support that sustained price from the COVID lows, now price is attempting to recover that line. At the same time we are expecting price to seek or confirm a yearly low, usually this happens when we have a failed weekly cycle, this has not happened so far. If price is rejected at re-ent
UPDATE: Absa Target reached at R181.95 what next?Cup and Handle formed on Absa, broke up and out of it.
On 12 June I said it was imminent for a breakout to the upside, but I had NO clue how fast this thing was going to rally.
And it was only a Medium Probability Trade
Price>20
Price<200
Now that the price has shot up, it obviously is silly
Is Absa setting itself for upside to R181.95Cup and Handle seems to be forming on Absa.
There was little supply (selling) which caused a major push up on the bank stock.
Banks have lagged many of the leading markets, and so hopefully they play catch up once the JSE TOp 40 picks up yet again.
RIght now it's in Medium Probability territor
$JSEABG - ABSA: Scratch The Head & Shoulders?See link below for previous analysis.
Bulls have come in aggressively at 13683 cps and price looks impulsive, currently in the third wave.
Price did not sell-off with momentum below the neckline so there is a high probability that the head & shoulders pattern I previously forecasted has been invali
$JSEABG - ABSA: Heavy Resistance + Head & Shoulders = BearishSee link below for previous analysis.
A look at the bigger picture of ABSA shows that the stock has a very strong resistance zone between 20371 to 21100cps.
The stock has tested this zone on three occasions giving what can be viewed as a Triple Top over 7 years.
Interestingly, the bull market from
ABSA showing major downside to come to R76.08Head and Shoulders has formed ont he dail since Early 2022...
The price broke below the neckline and has since then, been showing lower highs within the down channel,
We also have confirmed downside with the Moving Averages.
Price< 20 and <200
It looks bleak but the system is the system, so the
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An aggregate view of professional's ratings.
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