Such is the rewards if one is patient enough and daring enough to get in at the almost right time!
The top 3 banks are giving good investment returns to their shareholders thus far and with the rate hike news, it should not be a major issue for these banks to reach their previous peak at all. In this case, we are shy of 2 dollars to reach the pinnacle. Will it rise higher thereafter ?
I would say it is highly possible but not without challenges. It is more likely for profit taking and thus retracement is expected and price action is likely to move sideways until we see another stimulus to pierce through the resistance level at 14.
However ,if you have not bought any bank shares locally, I would suggest to hold your fire as the price is too high now. Let it comes down a bit first and DYODD if it is a worthy investment for you.
The top 3 banks are giving good investment returns to their shareholders thus far and with the rate hike news, it should not be a major issue for these banks to reach their previous peak at all. In this case, we are shy of 2 dollars to reach the pinnacle. Will it rise higher thereafter ?
I would say it is highly possible but not without challenges. It is more likely for profit taking and thus retracement is expected and price action is likely to move sideways until we see another stimulus to pierce through the resistance level at 14.
However ,if you have not bought any bank shares locally, I would suggest to hold your fire as the price is too high now. Let it comes down a bit first and DYODD if it is a worthy investment for you.
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good time to accumulate/long if you have not invest in any bank stocks thus far
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