Firstrand breakoutNice breakout on JSE:FSR . Potential resistance near R71. From my view, the juice isn't worth the squeeze, there are better setups in other bank stocks, unless you trade in a smaller time frame.
FNB
FNB on its wayFNB still going up slowly, market conditions not great, but will hope for a bit of gains here.
Disclaimer: The views provided herein do not constitute financial advice.
Please feel free to comment, critique or add to my view, I welcome feedback, whether it agrees with my views or not.
This idea is based on my strategy, please consider your own before using it in any way. Always use a stop-loss and manage risk.
FNB Popped out of channelAs hoped FNB popped up, might retest, need to monitor for direction
Disclaimer: The views provided herein do not constitute financial advice.
Please feel free to comment, critique or add to my view, I welcome feedback, whether it agrees with my views or not.
This idea is based on my strategy, please consider your own before using it in any way. Always use a stop-loss and manage risk.
Could FNB turn up here?This could be a significant level for FNB, indicators look good for a positive turn, but let's see if it plays out.
Disclaimer: The views provided herein do not constitute financial advice.
Please feel free to comment, critique or add to my view, I welcome feedback, whether it agrees with my views or not.
This idea is based on my strategy, please consider your own before using it in any way. Always use a stop-loss and manage risk.
FIRST RAND (FSR) POTENTIAL LONG (FNB)The price of this big bank stock is nearing two important areas, an upward trendline and a 200-day exponential moving average. If prices find support at any of these supports, we could see a rally towards the ceiling of the overall channel.
Buy: If price finds support on the ascending trendline, or if price finds support on the 200-day exponential moving average (EMA).
The trade will be invalidated if prices break well below either the 200 EMA or the trendline. It is important to note that the market is somehow bearish on the short term and bullish on the long term, therefore, long positions should be entered only after the prices shows bullish momentum. A safer trade would be to wait for an upward break of the correction flag/pattern before entering long
Waiting for the pull back to get long on FirstRand.FirstRand Limited is a South African financial services provider which provides services through a portfolio of leading franchises including Rand Merchant Bank (RMB), First National Bank (FNB), Wesbank and Ashburton Investments.
With FirstRand shares listed on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange, the group is one of the largest financial institutions in South Africa, offering an all-ecompassing variety of financial services ranging from corporate, investment, retail, personal and commercial banking, to installment finance, insurance and investment management.
FirstRand operates in eight other African countries: Botswana, Mozambique, Namibia, Swaziland, Lesotho, Zambia, Tanzania and Nigeria. The group also has offices in India, China, Dubai and London. FirstRand has high levels of surplus capital for investment across the African continent, allowing it to expand its geographic reach and revenue streams, to the benefit of those who buy the shares.
Technical
I am expecting to see a reversal at some point soon for the completion of wave 3 to the downside. I am however not interested in the short at this stage and will wait for the low at the end of wave 1 to break before I will be looking for an entry to the upside.
