hisah wrote:karasinga wrote:hisah wrote:Waiting for the monthly close to review the trends.
Affirmative... Kindly post your reviews here. Would really appreciate.
happy hunting
@karasinga, all the banks except KCB have been unable to retrace prices above the pre rate cap shock level
With this observation KCB and Coop are the only counters showing strength vs the bank bears - KCB being the stronger since it's trading exdiv. CFC vol spike at 58 handle last month finished off the lows with an interesting monthly pattern (bullish doji). This is a zone that got huge vol spike back in May 2013 which made price to rally to around 150 before the current bear struck.
Mpesa bank (SCOM) is spotting a morning star candle on the monthly, still bullish against the 16 handle pin bar low. A monthly close below 16 will mean the bears are regaining control. Interesting observations. I expect equity to miss previous Q1 numbers by quite a stretch. Coop is more of a defensive bank stock and should fare better than its peers. As for Kcb the jury is still out there - very curious this one.
The market has been on shallow retracements currently...waiting to see if it dips below 3000 by mid May to give the new found bulls something to ponder regarding the recent mini rally.
The main purpose of the stock market is to make fools of as many people as possible.