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Credit Suisse Group AG-ADR - 4 Hourly

By Minipip
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Switzerland's second biggest bank causes concerns for investors as two latest departures raise eyebrows.

Switzerland’s second biggest bank is getting a lot of bad press and commentary in the media. Small concerns arise over the bank’s liquidity. From a technical perspective, the stock is currently in a bullish path with the price of shares at $4.48. The stock has peaked slightly above the 38.2% Fibonacci level, hence the next resistance sits at the 50% fib (or $4.69). In the short-term, a break above the 50% fib may stimulate further hikes to recover recent losses. However, towards the downside the support sits at $4.17 (23.6% fib). A break below this support level, could see the price of the shares plummet back towards its all-time lows of $3.70. Looking at the indicators, MACD is strongly positive and RSI reads 61, overall suggesting a bullish stance. Investors are sleeping with one eye open as though the indicators present a positive outlook, behind the scenes things are causing concerns. Particularly the ‘big’ two latest management departures which will raise eyebrows.  

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