hisah wrote:Rosy results brushed aside by Mr Market as HF breaks out of the descending triangle on the 3 month cartoon. Breaking below the 19.00 handle support opens up a test of 15.00 handle and lower depending on the expected sharp plunge. Triangle/wedge breakouts are powerful thrust moves!
NBK had a similar setup last year with 15.00 as the support handle. When it caved in the sharp plunge sent the price sub 10 in a rush.
This bear has a big appetite for financials!!
The bear frequently hands this stock a good beat down any time it visits town. I would expect no different this time around. In fact I have been surprised it has managed to hang on for so long near 20.
Hfck also happens to have a thinner liquidity ratio than Nbk! Its business model is different from the normal banks but a 1% margin borders on dangerous living.
What happened to the mortgage case where a borrower had a claim of 700m+ against hfck? Was it settled out of court (doesn't seem so) or did hfck appeal the decision?
The main purpose of the stock market is to make fools of as many people as possible.