Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Banks!!!

Reply
superstar
Regular Contributor
What the hell happened to banks?
0 Kudos
19 REPLIES 19
cheapcheap
Regular Contributor
absa !!!
0 Kudos
Not applicable
Think absa worth a buy at these levels? Quick trade? Long hold?
0 Kudos
sponono
Super Contributor
stocks that fall because of bad earnings report do not usually come back soon enough. BAW, TBS, SPP. in any event ASA is a dog of the banking sector.
0 Kudos
superstar
Regular Contributor
If ABSA was not a bitter pill to swallow, If it was a good stock to invest into, I would say it might come back. My guess is tomorrow the share might continue sinking but at lower pace.
0 Kudos
WES
Super Contributor
Yesterday, today......never again !
0 Kudos
striker
Super Contributor
- and Ramos simply does'nt have the credentials.
0 Kudos
Big_Bucks
Super Contributor
Biggest loser today....biggest gainer tomorrow, typical over reaction, great value at these levels. Bought big call options for the morning, money for jam OMO
0 Kudos
sponono
Super Contributor
0 Kudos
kwagga
Super Contributor
Good luck with that one. I generally don't buy into breaking news.
0 Kudos
Not applicable
Well, a downgrade AND an profit warning. So they missed forecasts at current borrowing costs, and they will have to make due with higher borrowing going forward. So a double earnings wammy. ABSA is sitting currently on a PE of 11, that is historically on the high side. And if they are 10% off target, then a price of around R14 per share would be a fair price. Definitely overvalued right now, IMO. And, lets not forget technically that they have broken support emphatically
0 Kudos
sponono
Super Contributor
0 Kudos
superstar
Regular Contributor
Are you saying ABSA might go down up to R14? as in R10 + R4? I am the first to admit, ABA is not a good stock R14 is a bit too much
0 Kudos
Not applicable
I think he meant R140
0 Kudos
superstar
Regular Contributor
ABSA below R140 and with the sherriff helping himself in their head office assets, is it worth buying? Looks cheap but can the prior bad news continue to shoot the stock down?
0 Kudos
sponono
Super Contributor
falling knives will leave you with no fingers.
0 Kudos
superstar
Regular Contributor
Does ABSA still have clients (customers)? the price is now approaching R135, can it go as down as R130? Bought a call warrant when price reached below R140, I know bad move and was stopped out.
0 Kudos
BlueDolphin
Frequent Contributor
... and Barclays has been penalised with a record fine of £290m by UK authorities for interest rate manipulation. The London-listed shares of Barclays, which owns Absa , plunged as much as 18% yesterday ... http://www.businessday.co.za/articles/Content.aspx?id=175218
0 Kudos
Wino
Super Contributor
Probably worthwhile to look at as an investor once Ramos leaves.
0 Kudos