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Online Share Trading

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SBK

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Salv
Frequent Contributor
Any Thoughts on the OST technical analysis on SBK?
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8 REPLIES 8
saash
Super Contributor
Yes - it looks like a superb short at 109-50.
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Salv
Frequent Contributor
With a target of 56? Is that not a little overboard ? I know the market doesnt care, but just trying to understand how the technical analysis shows such a massive drop ?
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saash
Super Contributor
I would say a safe short-term short to 96. But if you look at the 5-10yr chart, there are a lot of other patterns at play other than the double top 1-yr pattern. By failing to hold 100, target is the height of entry into the flag pattern, so yes - support target of around 59 or so. Add that to the trough target of the double-top, this share is in trouble if it doesn't pull out a rabbit.
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alleycat
Contributor
It's not only a double top but a triple top from Nov 2007.
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Not applicable
currently sitting on an 11 times PE. If it comes in at the low end of its forecasted earnings (800cps), and it gets rerated to a 9 times PE, then sure, R56 a share is quite possible. Just look at ABSA. And here in a nutshell is my trading style. I like to know that there is a little bit of fundamental logic to a technical forecast.
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Rams
Super Contributor
its very dangerous to trade different chart patterns , or look for different chart patterns to trade...if you trading double tops, then trade double tops all the time...i can find other chart patterns on the SBK chart that tells another story.Is it also not dangerous to mix technicals and fundamentals becos then BIAS comes in...saw this in Traders Corner also...not my style
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Not applicable
in a simple nutshell - bollocks
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Rams
Super Contributor
not in a mood to discuss this all over again, and any way, if thats your style then its your style, but not mine..there is 2000 reasons why its not my style!
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