HSBA and STAN

[Anil]

Just looked at the charts for these 2 banks.

HSBA has broken out of a wedge and making new highs.

STAN has broken out from resistance going back
to August.


Medium term these two look like they could make
some significant gain. I guess it is no
concidence they are both banks with Asian
exposure.

comments anyone?

 

[ChartMan]

Yes looks good .target price on HSBA 1170,but may see some profit taking.
However be careful on STAN.The breakout is nice,but there is stiff resistance to overcome @ 1128,which happens to be yesterday's high.Coincidence?If there' any substance to this rise, a close above 1030 ish is required, to provide new support.A pullback to below this and new support will be 925.This is unlikely short term as the price has closed bove resistance for 6 days. Almost a doji yesterday, so you may see profit taking.
As I speak price is 1096

Martin