FSV trade ideas
FirstService Corp - FSV - Could It Be Time To Buy Back In ?See a Weekly Chart of FSV, attached.
FSV is a stock that trades super predictably on a technical basis.
Arrow shows almost a perfect 2.618 extension from the COVID crash.
Also note the top was on the bearish divergence on RSI, almost to the dollar (yellow circles)
To buy back in, I'd be looking @ $113.95, the pre-COVID top. I'd also look for bullish divergence on the RSI, as it is very much oversold.
Fundamentally, FSV is beyond solid and I have not sold a single share since I got into it in 2002. It is my best performing investment of all time.
FSV breaking out of consolidation* Good earnings quarter over quarter
* Strong and steady up trend
* Broke out of a 2 month consolidation with higher than average volume
* Pays dividends with a Payout ratio of 21.10% the company has a lot more room to grow
Trade Idea:
* Broke out of consolidation with higher than average volume
* Saw a tonne of selling pressure after the break but held the broken level as support
* This may end up consolidating for a bit before moving higher but $191.20 should hold as support
* Look for buying opportunities around the $191.20 area
