FirstRand Breaching Resistance + Showing Relative Strength (Now Running +31%) + Potential To Re-Test 8100c

Research Notes 04 - 08 August > https://www.unum.capital/post/r0408august

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Now trading higher by 31% vs our buy re-entry level.

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Previous Post (20 July) FirstRand Has Rallied By 30%. Following A Brief Consolidation, Short Strength Is Re-Emerging

The share has rebounded sharply, rallying by 30% from the buy range of 5800c to 6000c. The current price action model reading as follows:

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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

Senior Investment Analyst: Unum Capital