Daily 4XSetUps - More Or Less 28 CHF Seems To Be UBSG's Peak

27 nov 2024

2024/11/27
Daily 4XSetUps - More Or Less 28 CHF Seems To Be UBSG's Peak
“there were 6 highs above 28 chf during this year 2024!
will we come back above this year? Or do we keep falling?”



"UBS wants to completely take over its current securities joint venture in China. The process of increasing the stake in "UBS Securities" to 100% is underway,", the major bank said on Tuesday in response to a request from the AWP news agency. The bank confirmed a report by Reuters: "The joint venture partner "Beijing State-owned Assets Management" (BSAM) wants to auction its 33 percent stake in the joint venture.". UBS currently owns the remaining 67%. The Bloomberg agency had already reported last April 2024 that "UBS was seeking a type of swap deal with the Chinese government when cleaning up its China business after taking over Credit Suisse.". UBS wants to take over the Chinese state's 33% share in the joint venture with UBS. In return, UBS would sell her 51% stake in "CS Securities" to a Chinese state-owned company. And that's what happened, at least in part: at the end of June 2024, UBS more or less exited the securities business of the former Credit Suisse in China. The big bank did not sell the entire 51% stake, but sold a share of around 36% of "CS Securities" to "Beijing State-owned Assets Management" (BSAM). This means that UBS only holds around 15% of the joint venture and no longer has a majority stake. CS Securities was founded in 2008 as a joint venture by Credit Suisse and the Chinese financial services provider Founder Securities. As of June 2020, CS held a 51% stake and Founder Securities held the rest. A foreign bank is not allowed to hold two licenses for securities business in China at the same time.

“To be effective you must not let your need to be right be more important than your need to find out what’s true. If you are too proud of what you know or of how good you are at something you will learn less, make inferior decisions, and fall short of your potential.”
Ray Dalio

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 27.67 : 2024/11/27 - 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 actions of the UBSG shares. The UBSG share has recently shown itself to be robust and has recorded positive developments. It is noteworthy that UBSG shares rose by a more than impressive +25% year-on-year. This underlines the strength of the Swiss financial giant despite challenging market conditions. But that doesn't mean that the handling of this Chinese business doesn't seem to be taking place without any traces. What the trading day made clear yesterday, Tuesday, November 26th, 2024. When the share price was over -2% lower during the day at the end of trading. Therefore, the momentum towards CHF 30 is likely to have fizzled out for now - and we bulls should content ourselves with baking smaller rolls until the end of 2024! What do I mean by that? The GAP between 26.5 CHF and 25.68 CHF has to be defended for the time being. The best timing should be a trendreversal above 26.45 CHF until the end of this year 2024! Why? Because we can then still argue in the form of an upward trend since the annual low in August 2024. Because since then the lows have always been higher than the previous ones. Which should even be enough until the end of this year 2024. And that would be a great start into 2025 - only to reach new multi-year highs again in 2025!?

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CHF 33.00 : 2024/11/08 - Target Price
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CHF 27.67 : 2024/11/27 - last price action
CHF 28.21 : 2024/11/08 - Entry Price
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CHF 25.00 : 2024/11/08 - Stop Price
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Have a good time
- regardless of the price action!
Aaron



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