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...
JSE:FSR Broke higher from month long consolidation. If break out holds target around 70.00
FSR has a similar structure to RMH (See link below). FSR has also found support at the previous accumulation range and the Yearly Pivot Point. With the Rand (ZAR) strengthening (See link below) this also provides support. The high volume after the breakout can be seen as a Buying Climax (BC). The bottom of the range provides support on higher demand volume. We...