Monday, March 9, 2015

Annual Trading Forecast on Standard Chartered (2015)

Standard Chartered Bank shares (LSE:STAN) have the possibility of going upwards this year. The market was under pressure last year, consolidating towards the end of that year and in the beginning of this year.

Now, the market has broken upwards as it is ready to journey northward. The price is above the EMA 21 and the RSI period 14 is gallivanting around the overbought territory. Clearly it is not advisable to go short in this market, for this may be the beginning of a long-term bullish movement. The price may end up reaching the resistance levels at 1300 and 1500 this year.

However, some speculators may be reluctant to take advantage of this idea. As Jeff Bezos puts it, ideas are easy. It is execution that is hard.

This forecast is ended by the quote below:

The hard part about trend-following, and success in general, I believe, is not creating a system but following the obvious one that works.” – Mike Melissinos

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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