FirstRand: Bank/Take Profit - Running 19 to 21%

Trade FirstRand with Unum Capital.

To get started, email lester@unum.co.za

The share has rebounded sharply, with last week's high being 21% above the buy range. At current levels the share is 19% above the buy range. Short term traders could consider banking/taking profits.

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Previous Post: Actionable Areas: FirsrRand

(Published Saturday 05 April for Monday 07 April)

Original Post: https://www.unum.capital/post/fsraction

FirstRand (FSR) is down 29% from it's Sept-2024 peak, with the share trading near it's June lows. It's not inconceivable that the share could trade down at the 5800c to 6000c range, which is a medium term support range. At current levels, oversold conditions are already present which reflects aggressive selling pressure however, also raises the probability of an ultra short term rebound. Last close: 6293c

FSR Daily Chart as of the close on Friday 04 April

Lester Davids

Analyst: Unum Capital