Daily 4XSetUps - Oops! SIX:UBSG ... We Did It Again

١٧ نوفمبر ٢٠٢٤

2024/11/17
Daily 4XSetUps - Oops! SIX:UBSG ... We Did It Again
“we are long in the major swiss bank for the third time!
why? aren't there more exciting banks? us banks maybe?”


CHF 29.57 : 2024/10/30 - Last Annual High 2024
CHF 29.10 : 2024/11/07 - Last False New High 2024
CHF 28.78 : 2024/06/03 - 2nd Annual High 2024
CHF 28.62 : 2024/03/26 - 1st Annual High 2024
CHF 28.18 : 2024/07/15 - False New High 2024
CHF 28.07 : 2024/11/15 - last price action
CHF 26.58 : 2024/11/15 - SMA1 Trendline 100 hl/2
CHF 26.58 : 2024/11/15 - SMA2 Trendline 200 hl/2
CHF 26.50 : 2024/07/31 - Upper Trendline Bearish GAP
CHF 25.68 : 2024/08/02 - Lower Trendline Bearish GAP
These are the most important price acton of the UBSG shares. The UBSG share has recently shown itself to be robust and has recorded positive developments. On November 15, 2024, the share closed at CHF 28.28, which corresponds to a decrease of -0.74% compared to the previous day. It is noteworthy that UBSG shares rose by a more than impressive +27% year-on-year. This underlines the strength of the Swiss financial giant despite challenging market conditions.

“I just want to be right … I don’t care if the right answer comes from me.”
Ray Dalio

However, as I wrote in the last post about SIX:UBSG I'm still not all that euphoric about UBSG shares! Why? Because UBSG is perceived more as an asset wealth management bank - and not as a trading bank. Which trained banker goes to UBSG as a trader? To boost in-house trading? Correct! Then you go to the major US banks like JPM and/or GS just mentioned. That's why the price action of both shares of these two banks are also more volatile i.e.. But anyone who is interested in calm asset management - regardless of whether they are an employed banker, let alone a shareholder - is in good hands with this boring major bank from Switzerland, in the best relaxed sense. What the share price development of UBSG also proves! Isn't it?

Be that as it may, the decisive factor for this 4XSetUp is the 26.50 CHF price action! Because defending the underlying bearish GAP from the beginning of August 2024 is what this entire long 4XSetUp is based on. Because the numbers were quite good - even compared to the industry. But as I said, not the best - there are Anglo-Saxon high flyers - like JPM and/or GS i.e. - who climb faster and/or higher. But on the other hand, it can also fall accordingly. That's why I feel more than in good hands at this big bank from switzerland with this long 4XSetUp. And that also, thanks to the technical picture of UBSG , in addition to the last quarterly figures, what suggests all in all together further higher price actions. Because the lows from August, September, and then also October, this year 2024, were all below the bearish GAP. And always higher - september low higher than August low - and the October low was even more or less at the level of the upper trend line of the GAP. Also higher. What not only represents a massive gain in confidence for us bulls, but also confirms that the bears have lost ground above CHF 26.50. And this must be defended by traders and/or investors until the end of 2024. So in 2025 it will only be a matter of time when the price action will be 33 CHF! But that will be in 2025 - or not?

----------------------------------------------------
CHF 33.00 : 2024/11/08 - Target Price
----------------------------------------------------
CHF 28.07 : 2024/11/15 - last price action
CHF 28.21 : 2024/11/08 - Entry Price
----------------------------------------------------
CHF 25.00 : 2024/11/08 - Stop Price
----------------------------------------------------


With best wishes
and with good intentions!
Aaron



“daily 4XSetUps - …” is pure information material!
By trying to give you even more information about some trading capabilities to trade and/or invest in some securities. This post is not a call to action - it only provides information. You decide (not) to decide. Even if I am writing daily 4XSetUps with concrete entry prices, target prices and/or also stop prices! It is like it is - like I said; You decide to respond to the analysis I just formulated to buy, to sell, or to do nothing! More information about my approaches to investing in something specific or just trading it, or even just describing it, can be found in the daily "Another 48h - DXY ...! Analysis Post. Where I try to track the price action in DXY every day so that we learn something new daily.