An extract from this morning's client research note:
Firstrand (FSR, 5908c) | The share has been sold off over multiple sessions, with the last fours closes below the near-term moving averages and the price now close to it’s swing lows.
POTENTIAL BULL TRADE SETUP: Look for a piercing candle i.e. trade below yesterday’s low followed by a reclaim for a move back to the 50-EMA and 8-EMA above. Note the last 4 days down has been on declining volume.
POTENTIAL BEAR TRADE SETUP: Traders should consider the potential for the price to trade below yesterday’s low and then reclaim that low, resulting in a piercing candle and potential bullish reversal for a trade back to the 8-day EMA. Chart: DAILY. Time Frame: Intraday/Ultra Short Term
For more real-time insights and trade ideas, get in touch today.
Firstrand (FSR, 5908c) | The share has been sold off over multiple sessions, with the last fours closes below the near-term moving averages and the price now close to it’s swing lows.
POTENTIAL BULL TRADE SETUP: Look for a piercing candle i.e. trade below yesterday’s low followed by a reclaim for a move back to the 50-EMA and 8-EMA above. Note the last 4 days down has been on declining volume.
POTENTIAL BEAR TRADE SETUP: Traders should consider the potential for the price to trade below yesterday’s low and then reclaim that low, resulting in a piercing candle and potential bullish reversal for a trade back to the 8-day EMA. Chart: DAILY. Time Frame: Intraday/Ultra Short Term
For more real-time insights and trade ideas, get in touch today.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.