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Standard Life Aberdeen PLC (LON: SLA) - Analysis


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Hi,

I'm fairly new to the community and I've started out looking into stocks I'm familiar with. One of these is Standard Life Aberdeen PLC (LON: SLA). In the screenshot below you can a general (albeitvery gradual) uptrend on the Daily chart since late-March 2020 which I've highlighted in Green. However, since mid-February 2021 there has been an intra-trend move downwards (highlighted in Red) and these points look set to cross in the coming days.

Daily Chart

image.thumb.png.9295b3f1c42d04b94ae52551dc30baa4.png

Thoughts

My natural bias is towards being bullish on this stock. But I'm waiting to see how the shareprice behaves over the next week. So I'm interested to see what other think on this stock and if there are other factors you think are important to consider?

 

Have a good weekend anyway folks.

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  • 2 weeks later...

Update

Having traded sideways over the past couple of weeks the price approaches to top of the intra-trend downward move (as discussed in the original post). My view is that the uptrend is holding and I have taken a long position in this stock.

Daily Chart

image.thumb.png.c437e908e686ad56a4944b10183784aa.png

Thoughts

As the price has broken through the downward trendline and held at support trendlines (highlight in yellow) this feels like a good buying opportunity. Additionally, at around the 270p price-level there has been continued support.

The stop loss is set at 254p which is the 13-May-2021 low for the day. The target is 330p which is in the region of the late-February/early-March highs.

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