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Home / Support and Resistance / Standard Chartered PLC (STAN.L) 21-01-20

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Standard Chartered PLC (STAN.L) 21-01-20

Standard Chartered PLC (STAN.L): will it break the 690p key support level, or bounce to highs of 734p (+6%)?

 

  • Currently trading around the 690p support. The current price is 689p (at time of writing).
  • Support levels like these are often used by traders to assist with decision making.
  • Strong support levels often suggest that there may be ‘hot money’ looking to buy at the key level. Of course, valuations can change.
  • Will the share price rally again to recent highs of 734p? (+6%).
  • Shares -6% from 12-month highs; +19% from 12 month lows.

Latest News

15 Jan:  Barclays Capital reiterates its underweight rating on Standard Chartered (STAN) and increased the target price to 650p (from 630p).

22 Nov:  Goldman Sachs reiterates its conviction buy rating on Standard Chartered (STAN) and cut the target price to 1000p (from 1020p).

15 Nov:  Exane BNP Paribas has downgraded its rating on Standard Chartered (STAN) to underperform (from neutral).

14 Nov:  Goldman Sachs reiterates its conviction buy rating on Standard Chartered (STAN) and increased the target price to 1020p (from 990p).

 

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

 

Click to enlarge

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