Annual forecast for Standard Chartered (2021)

PUBLISHED: Jun 17 2021 @ 03:22 | Comments (0) | More info about Azeez Mustapha

Standard Chartered Plc stock (LSE:STAN) has been quite choppy and trendless for most part of this year. However, it can be seen that the movement propensity is to the upside, upon a closer look.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top right part of the chart.

The EMAs are sloping upwards, although not strongly. The market is below the EMAs 10, 20, and 50, but the bias on the market will remain bullish as long as the EMA 200 is not breached to the downside

It is highly likely that price would go above the EMAs 50 and 20 again, because another bullish round is expected soon. STAN will aim the supply levels at 450.00, 500.00 and 550.00 this year as the market goes upwards and the movement becomes more clearly directional.

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