STANDARD CHARTERED PLC, STAN

INDICATORS

RSI is at 49.60 level with -ve side, in next session downward movement is expected.

MACD and Signal line is below the zero level line.

SELL RECOMDATION

What time frame tl ?

on longer time frame i see something different...and could be worth quite a few points on the upside imo if the formation plays out.

dl.dropboxusercontent.com/u/40497882/Sta...%28DFB%29_Weekly.png





rgds

WS

Looks mixed to me and positive RSI divergence has probably already played itself out.

Is the rise from the low a nice bear flag just starting its descent or does the minor Bull Flag highlighted off that rise indicate a move higher?

I looked up cup and handle after noting the formation on IAE a little while ago and found that it is actually (strictly) a continuation play, not a bottom play; so it should come after an initial rise!


F4T

maybe both, a bull flag within a bear flag, yes very possible.

as for continuation longer term, this needs to start making higher highs, unitl then it remains in a downtrend, however stan has had its best move up in points since mar2013, since the recent lows.

I'll be watching this pull-back with great interest, and if it puts in higher low or not will dictate its
course..

if it does, then - initial upside target around 1264, 1340/50,

if it does not and the recent lows get taken then a retest to 2009 lows possible.

rgds WS

This stock was showing wave type indicators. Creating support level of 1055

But if it breaks the support level of 1055 it can show selling strength.

What are "wave type indicators"?