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FIRSTRAND LTD

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FSR trade ideas

Is Firstrand Ltd about top break out of its sideways channel?Firstrand has traded in a range between R60.00 and R70.00 for almost a year now. Only on a few occasions has it broken out of this sideways channel and, even then, only for a short while. But, if you look at the MACD, you would notice a bullish divergence has formed. As FSR 's share price kept retracing to R60.00, the MACD continued to make higher lows. This has me believing FSR might finally be ready to break out of the channel. I would like to enter the trade at a slightly better level. This will give us as few more options to exit should the stock once again find resistance at R70.00. Action: Place a Limit Order to go LONG with your Limit Price set to R67.00. Set your Stop Loss to R59.50 and your Take Profits to R75.00 and/or R85.00.
JSE:FSRLong
by UnknownUnicorn3689126
Firstrand is bouncing off resistanceAfter creating a high of R77.25, Firstrand dropped to R55.00 before bouncing back up to just above R70.00 a share. Since then it's traded sideways. It seems to have found resistance in the area between R72.00 and R69.00 while support kicked in somewhere between R62.00 and R59.00. Over the past few days, the price reached the lower end of the resistance range and immediately began to drop. The Slow Stochastic indicator has now reached the higher end of oversold territory. I don't believe Firstrand will reach the R71.00 level but instead will continue to fall from here. I will thus be going short. Action: Place a Limit order to SELL at R68.00 with a Stop Loss set at R71.00. I will aim to take profit at R65.00 and R62.00 respectively. Margin: 21% Gearing: 4.76x Gain: +42.02% Risk: -21.01%
JSE:FSRShort
by UnknownUnicorn3689126