Nedbank is the fifth largest bank in South Africa according to market capitalization (R44bn). Their financial results for the period ending December 2019 reported the following: headline earnings down 7.3%, revenue up 2.5% and net asset value per share increased by 3.7%. The stochastic indicator is oversold which makes the probability for a bounce to higher levels more likely. The share is caught within falling wedge between line A (R91-09) and line B. The optimism of the formation will be…