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I have bought this bank quite some time ago for its stable dividends and being a government bank, it offers me a stable dividend payout. The capital appreciation was definitely a surprise as you can see from chart that it went sideway for quite a while...........
For those who wants to take a quick trade, I would say it is over as it has gone up more than 20% and is unlikely to soar any higher, maybe another 1-5% which is risky in my opinion to enter now.
On the weekly chart, it displays a nice descending wedge pattern with the apex at 4.00 being the lowest price. Since it is hard to catch the bottom, buying at 4.56 is still a good deal for me .
Let's hope the earnings prospects will improve this year and bring this bank back to its glorious days of 7-8 dollars once more.
I have bought this bank quite some time ago for its stable dividends and being a government bank, it offers me a stable dividend payout. The capital appreciation was definitely a surprise as you can see from chart that it went sideway for quite a while...........
For those who wants to take a quick trade, I would say it is over as it has gone up more than 20% and is unlikely to soar any higher, maybe another 1-5% which is risky in my opinion to enter now.
On the weekly chart, it displays a nice descending wedge pattern with the apex at 4.00 being the lowest price. Since it is hard to catch the bottom, buying at 4.56 is still a good deal for me .
Let's hope the earnings prospects will improve this year and bring this bank back to its glorious days of 7-8 dollars once more.
Note
bought some yesterday and will add more if it goes downNote
Praise God, a pretty bullish candle close , expecting more upsideNote
added some yesterday, a dividend play
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.