Banks looking brighter

In­dex strength­en­ing and Stan­dard in­creas­ingly trade­able

Finweek English Edition - - Creating Wealth - COLIN ABRAMS

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. the­mar­

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