STAN

Bank AI

Standard

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>STAN stock price: The stock price has experienced a bullish trend after the company declined to get acquired by First Abu Dhabi Bank.</a> </li> 
 <li> <span>2</span> <a>The company reported a revenue growth of more than 75% in its latest quarter.</a> </li> 
 <li> <span>3</span> <a>This stock’s current price has rebounded from its resistance, see what is next.</a> </li> 
</ul> 
<p>The London-listed bank, Standard Chartered (LON: STAN) finally came in an uptrend after a rollercoaster ride during the start of this year.</p> 
<h2 class="wp-block-heading" id="strong-the-acquisition-talks-strong"><strong>The Acquisition talks</strong></h2> 
<p>On January 5, The First Abu Dhabi Bank (FAB) announced that it was considering making an offer to acquire Standard Chartered. The offer is estimated to be between £30 billion and £35 billion. This news caused a stir in the market, and the following day, the stock price of STAN fell nearly 5% early on Friday.</p> 
<p>In July, the CEO of Standard Chartered stated he does not expect a further acquisition approach from First Abu Dhabi Bank due to the end of a six-month cooling-off period required by UK takeover rules.</p> 
<h3 class="wp-block-heading" id="strong-the-economy-insights-strong"><strong>The economy insights</strong></h3> 
<p>The banks in the UAE are expected to give out fewer loans due to higher interest rates, a decrease in non-oil activities, and unpredictable global economic situations. According to S&amp;P Global, the expected loan growth for the banks in the UAE has been reduced to 3% for this year. That is a decrease from nearly 6% in 2022.</p> 
<p>On the other hand, the British bank’s revenue has been skyrocketing in its quarterly reports.&nbsp; In the latest publishing of June, the company made a revenue of £7.4B, a year-on-year growth of 75%. Following the pretax profit, the growth was more than 19% in the same period.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-stan-stock-price-strong"><strong>Technical Analysis and Prediction of the STAN Stock Price</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/8QJCBeKxlhp2AlqNo_qJWeG8prv37h6ksN8b6IAOfhLiQlMcdtej7V5wlKPpKz-0EZCAwYzo36yDku9XhSISyPR6jLmo-5jyoKcXZeP_GLsaXVstB8GO5yyLCyC4oUM3YZrcFsnihlwb6LYw5YQKxy4" alt="STAN Stock Price: Stock Rises as the Acquisition Deal is Canceled&nbsp;"> 
  <figcaption class="wp-element-caption">
    Chart provided by <a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=LSE%3ASTAN" rel="noopener noreferrer nofollow">TradingView</a> (daily time frame) 
  </figcaption> 
 </figure> 
</div> 
<p>The STAN stock price is trading at £745 after returning from its immediate resistance level of £757 at the press time. Back at the start of September, the bulls reclaimed the support level of £693. After making a high, they further tried to break past the resistance level, but the bears were trying to reclaim it&nbsp;</p> 
<p>The indicators like MACD and RSI are on the verge of crossing their moving averages as the STAN stock price drops. The MACD is above its neutral zero line at 8.2, while the RSI is near its oversold zone at 60.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-possibility-of-breakout-strong"><strong>Possibility of Breakout</strong></h3> 
<p>Looking at the RSI graph, the stock got some rejections before it touched the oversold level of 70. As the bulls are still trying to get back up, the STAN <a href="https://www.thecoinrepublic.com/2023/09/21/hln-stock-price-bears-gave-up-after-the-reinforcement-of-50-ema/" rel="noopener noreferrer nofollow">stock price</a> can again try to break past the resistance level. It will rest at the point when the RSI comes to 70.</p> 
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>The STAN stock was in the headlines at the start of the year, following the talks with First Abu Dhabi Bank. However, the British bank declined the deal after 6 months. The stock is in an uptrend following the quarterly reports. The stock looks forward to breaking over its resistance level, and the price prediction is with the bulls.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support: £693, and&nbsp; £634</p> 
<p>Resistance: £757, and £797</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

STAN Stock Price: Stock Rises as the Acquisition Deal is Canceled

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 26, 2023

Concerns grow over U.S. crypto market losing ground

Hong Kong Takes Steps to Enhance Crypto Platform Oversight

Ethereum: $23.8M ETH Move From Unknown Wallet to Exchange

Ethereum's 1.51% Surge to $1,590.53: Key Takeaways for September 26, 2023

Prominent Analyst Reveals 6 Altcoins to Watch Closely This Week and Why

Next Block Expo – Leading European Blockchain Festival

Join our free newsletter for daily crypto updates!