Banks looking brighter
Index strengthening and Standard increasingly tradeable
SOUTH AFRICAN BANKING STOCKS rebounded sharply after forming a bottom in July.
While not completely “out of the woods” their future’s looking a lot brighter. We show a chart of the JSE banks index as well as that of the country’s largest bank (by market capitalisation), Standard Bank. Both charts are currently in sideways patterns and traders can take advantage of current short-term moves – in both directions – until we get an eventual breakout.
Please note: For more charts by the author on shares, indices and commodities please go to www. themarket.co.za.