Standard Chartered in Double Bottom Formation

FTSE 100 – Standard Chartered (489.57) Target (515)

Although the secular trade for stock remained down, last week saw double bottom formation at 470 followed by reversal of action during the past few trading days.  The position of daily momentum studies are also positive with major indicators trading higher from oversold territory.  On trading above 475 the target comes first at 505 and there after at 515.

Standard Chartered plc is an international banking group operating principally in Asia, Africa, and the Middle East. The Company offers its products and services in the personal, consumer, corporate, institutional and treasury areas.

OPEN – 493.95

DAY RANGE – 482.85-494.05

52WK RANGE – 455.50-1,108.37

MARKET CAP (B GBP) – 16.014

SHARES OUTSTANDING (B) – 3.278

SECTOR – FINANCIALS

INDUSTRY – BANKING

SUB-INDUSTRY – DIVERSIFIED BANKS

Risk Warning

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