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Online Share Trading

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Banks

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platsak
Super Contributor
Banks looking cheap again. Enter Long or do the forum expect a downward break.
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3 REPLIES 3
Not applicable
I am not sure if the SA banks follow the Eur bank trends. i have only started looking into shares in SA, but if they do, i would hang back a while. the talks over here is that Banks are going in for pressure for the next while as there are still fears abound of the lows being tested.
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AJT
Super Contributor
I agree that banks will still be under pressure. I currently hold Standard Bank shares, but am not buying anymore right now...
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Not applicable
banks are in such a flat trading range at the moment, that I think it is impossible to call. set your stoplosses wide if you are going to take a direction, IMO. Personally, I don't think banks have the legs to break their resistance levels, and I am bearish and am using a channel breakout as my short entry. The exception is Investec, which is going great guns and looks like a great swing trade setup long, don't ask me why it is not behaving the same as the other banks?
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