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Trading FirstRand

Writer: Lester DavidsLester Davids

Trade FirstRand Ltd with Unum Capital.

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


Gap filled, 61.8% fib tested and rebounding.

 

Previous Post (16 February): Trading FSR


Compared to the broader market and along with the sector, the FSR is showing relative weakness. The share is trading below it's 75-day EMA which has, for around 10 weeks, started to trend lower. The 61.8% Fibonacci retracement is at ~7000c, which is also in line with the unfilled gap. This can be seen as a provisional buy/long re-accumulation range.


Analysis (Including Chart + Data) as of Friday 14 February at 09h45




Lester Davids

Analyst: Unum Capital




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