KBC.BR has upside potential in 2022 but long term uncertain
Off the covid crash low we were 3 waves up before a correction began, currently retrace to around 0.786 fib.
As long as 60 (the 0.5 fib) hold, I can see upside target 1.382 fib, which is ...surprise surprise... right at the ATH... struck in 2008 just before the GFC crash...
All coincident aside, after 5 waves completion, a bigger degree of correction will occur, the bullish portion of this cycle is probably at its exhaustion.
Fundamentally, KBC is one of the best capitalized banks in continental Europe, can outperform its peers.
The caveat: Financials have been systematically underperforming the market sinds the GFC.
As long as 60 (the 0.5 fib) hold, I can see upside target 1.382 fib, which is ...surprise surprise... right at the ATH... struck in 2008 just before the GFC crash...
All coincident aside, after 5 waves completion, a bigger degree of correction will occur, the bullish portion of this cycle is probably at its exhaustion.
Fundamentally, KBC is one of the best capitalized banks in continental Europe, can outperform its peers.
The caveat: Financials have been systematically underperforming the market sinds the GFC.
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