14 November 2016
We dedicate this regular review to the up-to-date trading opportunities to Sberbank, which is the largest bank in Russia and one of the largest banks in Europe.
On November 15, Sberbank will publish the report based on IFRS for the first 9 months of 2016. In our opinion, we can expect the positive report, which will boost shares of the bank. The net interest income for the period increased by 50% in annual terms, whereas the net fee-based income grew by 21.7% against to the same period of 2015.
The pre-tax profit of the bank surged by 168% in annual terms — to the level of 487.3 billion rubles. The return on equity was 20.1% — against 9.2% in 2015. 29.6% of assets of the Russian banking system belong to Sberbank. Such strong figures may encourage traders to open Buy positions with Sberbank shares.
On the monthly and weekly charts the ADX indicates presence of a strong uptrend.
Our trading recommendations:
The first goal: 153.70
The second goal:155.60
Good luck in trading!
FreshForex — fresh view on money!
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