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A few thoughts SBK (banking sector) and AGL

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Super Contributor
SBK has broken and kissed its support line as has the banking index...IMO there is now strong potential for a downward move of at least R10 and tommorow may be a nice entry point. In a similar vein AGL has broken and kissed its support line and has a strong chance of seeing a retracement down to the 220/230 mark which will be an excellent buying opportunity. Both trades currently have nice close stops allowing for a low risk entry point....
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Super Contributor
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Super Contributor
Do you really think it will go down that far? It was ther 2 weeks ago and now it's on the up.
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Super Contributor
Eddy, it needs to close above 260 to break its down trend....look for downside then a nice rally from the lower levels....IMO
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Super Contributor
I sold out at a bit of a profit this morning. If you are right Ninja I will again enter lower and problably owe you a beer.
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Super Contributor
Agree it must close above 24650 or it will slide to 230
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Super Contributor
Look at AGL fly!!..on wings of change.
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Super Contributor
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Super Contributor
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Super Contributor
No Ninja. Looks like you owe me quite a few bottles of Johny Walker on your SBK prediction.
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Super Contributor
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Super Contributor
it looks like it's gonna be a close call for that 26150 mark ninja!
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Super Contributor
mmmm almost time to go short again
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Super Contributor
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Super Contributor
banging res at 263 high rsi, high stoch, top of bol high above MA. but 2nd candle in a new box so it must set the high. at the moment SAR is good. so will stay long for a few days yet
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Super Contributor
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Not applicable
what a day for my portfolio - on the winning side of AGL & SBK. Pitty about AEG, got kicked out today - my first stoploss in ages. Kumba dragging its feet as well and I just took profit on SAB.
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Super Contributor
Yea Kumba did well until 11am and then went back into her proverbial shell (think it will break out soon, volumes are pretty thin) but what can be said about AGL mmmmm, what a run, been waiting for that to happen for a while from 230. Broke 265 well Next resistance is 274 volumes good 5mil. be weary if many of the tops were at this vol. Statistics everytime in the last year there has been 2 days of rising and similar volumes it tops out.
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