This is an odd time of year to look for any significant move but we just may have a last gasp attempt in some bank stocks to back up to previous support become resistance. After the covid drop, we have seen some accumulation in Standard Bank. Now after a sign of strength (SOS) in November we have seen a back up (BU) to the accumulation range that was formed. The breakout of the BU indicates that we could mark up to the previous support become resistance at between 16000 and 18000. This gives us a short term play to this level going into 2021. However, from there we are likely to be looking at the markdown to continue challenging the covid lows.
