UBS GROUP NLong
Daily 4XSetUps - UBS Just Before The Breakout Of A Tripl
2024/10/18
Daily 4XSetUps - UBS Just Before The Breakout Of A Triple Top
“bank balance sheets are convincing! is ubs coming too??”
On Thursday, SIX:UBSG shares climbed to a new high. A share cost exactly 28.46 CHF - and for the first time again more than 28 CHF, as was last the case in July 2024, after SIX:UBSG reached a multi-year high, in June 2024 and/or March 2024 before. After the Credit-Suisse takeover, the corporate value of the big bank climbed by more than 30 billion - which roughly corresponded to the book value of Credit Suisse. If you will, traders and investors have accepted the takeover, priced it in! And now?
28.78 CHF and/or 28.62 CHF are the price action which need to be taken over for the bulls to arrive at 29 CHF. Our target price action - to realize profits. On the downside, the 28.18 CHF price action needs to be defended! Why? Because if not!? The price action could fall to 27.96 CHF and/or 27.30 CHF - what is the high and/or low of the last relatively large consolidation day, October 15, 2024. SIX:UBSG has increased by ten percent, in the last days, last weeks. It is quite possible that the stocks will climb to a new record high in the next few days.
The course is on one side (if i am not wrong) driven by the interest rate cuts by the central banks. And on the other side also by the good results that the Wall Street banks have delivered in the last few days. NYSE:JPM i.e. earned almost $13 billion in the third quarter. One driver was the surprisingly strong stock trading. NYSE:MS reported a quarterly profit of $3.2 billion, up 32 percent year-on-year. NYSE:GS reported a 45 percent jump in profits on Thursday, while stock trading revenue rose 18 percent.
However, I'm still not all that euphoric about SIX:UBSG shares! Why? Because SIX:UBSG is perceived more as an asset wealth management bank - and not as a trading bank. Which trained banker goes to SIX:UBSG as a trader? To boost in-house trading? Correct! Then you go to the major US banks NYSE:JPM and/or NYSE:GS just mentioned. But anyone who is interested in calm asset management - regardless of whether they are an employed banker, let alone a shareholder - is in good hands with this boring major bank from Switzerland, in the best relaxed sense. What the share price development also proves! Or?
Be that as it may, the decisive factor for this 4XSetUp is the 26.50 CHF. If this holds until November 2024 - according to the quarterly results - then the medium-term path upwards, above CHF 29, should be clear. But more about that when the 29 CHF is reached? And/or at the latest after the quarterly figures, at the end of this month October 2024!
Have a good time
- regardless of the price action!
Aaron
“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in TVC:DXY every day so that we learn something new daily.
Daily 4XSetUps - UBS Just Before The Breakout Of A Triple Top
“bank balance sheets are convincing! is ubs coming too??”
On Thursday, SIX:UBSG shares climbed to a new high. A share cost exactly 28.46 CHF - and for the first time again more than 28 CHF, as was last the case in July 2024, after SIX:UBSG reached a multi-year high, in June 2024 and/or March 2024 before. After the Credit-Suisse takeover, the corporate value of the big bank climbed by more than 30 billion - which roughly corresponded to the book value of Credit Suisse. If you will, traders and investors have accepted the takeover, priced it in! And now?
28.78 CHF and/or 28.62 CHF are the price action which need to be taken over for the bulls to arrive at 29 CHF. Our target price action - to realize profits. On the downside, the 28.18 CHF price action needs to be defended! Why? Because if not!? The price action could fall to 27.96 CHF and/or 27.30 CHF - what is the high and/or low of the last relatively large consolidation day, October 15, 2024. SIX:UBSG has increased by ten percent, in the last days, last weeks. It is quite possible that the stocks will climb to a new record high in the next few days.
“If you can’t successfully do something, don’t think you can tell others how it should be done.”
Ray Dalio
The course is on one side (if i am not wrong) driven by the interest rate cuts by the central banks. And on the other side also by the good results that the Wall Street banks have delivered in the last few days. NYSE:JPM i.e. earned almost $13 billion in the third quarter. One driver was the surprisingly strong stock trading. NYSE:MS reported a quarterly profit of $3.2 billion, up 32 percent year-on-year. NYSE:GS reported a 45 percent jump in profits on Thursday, while stock trading revenue rose 18 percent.
However, I'm still not all that euphoric about SIX:UBSG shares! Why? Because SIX:UBSG is perceived more as an asset wealth management bank - and not as a trading bank. Which trained banker goes to SIX:UBSG as a trader? To boost in-house trading? Correct! Then you go to the major US banks NYSE:JPM and/or NYSE:GS just mentioned. But anyone who is interested in calm asset management - regardless of whether they are an employed banker, let alone a shareholder - is in good hands with this boring major bank from Switzerland, in the best relaxed sense. What the share price development also proves! Or?
Be that as it may, the decisive factor for this 4XSetUp is the 26.50 CHF. If this holds until November 2024 - according to the quarterly results - then the medium-term path upwards, above CHF 29, should be clear. But more about that when the 29 CHF is reached? And/or at the latest after the quarterly figures, at the end of this month October 2024!
Have a good time
- regardless of the price action!
Aaron
“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in TVC:DXY every day so that we learn something new daily.
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