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The Royal Bank of Scotland Group plc Message Board

  • fabricone1 fabricone1 Jan 17, 2014 12:13 PM Flag

    Revisit cup with handle chart pattern

    I thought this cup might not require a handle to move up but I was wrong and that is good as a handle adds more to the upside on the break out. Handle is forming now. Look for a big volume up day as the signal for the breakout buy point to pick up the beginning of a nice upside rally. That is the technical read. The fundamental driver is an improving Euro economy and this would put all the European banks in the same position as the US banks were a year to 18 months ago. They have experienced excellent gains last year and many still look for a continuation this year. This is a nice opportunity to jump on board for a nice gain in a bank who has already put in a lot of the heavy lifting to better position themselves. Good luck to all.

    Sentiment: Strong Buy

5.23+0.06(+1.16%)11:11 AMEDT