FSR trade ideas
FSR - Short IdeaA close below R36.80 would trigger the short idea with a stop loss above R38. 1st target R35.30 and full target at R34. There could be a potential retest of the trendline so worth keeping an eye on that.
Bearish TriangleA bearish triangle on JSE:FSR
Financial stocks are under pressure.
The 50 day EMA seems to hold on the 4th wave. If the price breaks a and closes below the support of the symmetrical triangle I'm looking to short the stock.
The risk reward is favorable
JSE:FSR - Breaks lower (Daily)JSEFSR - Closed below the May rising support line
Might retest trend (Resistance) but momentum is weaker and if it plays out in full, 3373 is possible on the downside
$JSEFSR Firstrand. Consolidation channelFirstrand has been trading within a large consolidation channel for a few months now. Current range is between 3700 & 4800. Long entry points closer to the bottom of the channel could be attempted with a stop on a breakout below the bottom or the range. Top of the range can be a target for profit take.
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.
JSE:FSR Firstrand Wyckoff: Effort Without ResponseVolume is high indicating effort but price has been making higher highs (without response). There has been high volume between R35 and R40. Negative divergence on the volume RSI also points to the effort without response. I am looking for a test of R55 to R60.
Invert head & shoulder formation on $JSEFSR on hourly chart Firtsrand on the hourly chart has an excellent invert head and shoulders pattern, a break above R40 will have a target of R44
Still hoping we can see a move higher in FNBMarket conditions have been tough, but the rand looks steady, lets see.
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.
FIRSTRAND - Long Idea- Decent area to go long on a swing trade
- Closed with a hammer on decent volume yesterday
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
$JSEFSR on important supportZooming in on the 1hr chart - we notice that since FirstRand bottomed on the 24th of March, we have formed a trading channel with 3 successive higher lows. This level just above R36 also coincides with a bit of a bullish channel flag which is forming within the larger channel in play. Corporate action would probably explain much of the recent weakness but a nice technical setup could be forming and it would be wise to keep a close eye on this one. Aggressive traders could look to buy in the lower R36's using a tight stop loss as a break under the channel. More conservative traders would wait for a break of the smallish channel at +- R40.00. Eventual target could be towards the upper end of this channel at +-R50 should the stock convincingly break above R40.
verry short term trade If the week closes above the grey line...... Long term play. but looks like a breakout for a day.
First Rand LimitedFirst Rand Limited with the downgrade form moodys banks are gonna take a hit as south africa gets taken out of the FTSE World bond index
