Making Money By Trading FirstRand

Trade FirstRand Ltd with Unum Capital.

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

R70 Tagged + Gap Filled. Now, Rebounding.

This is an update on the previous post, dated 16 February in which we prepared clients for the trading opportunity.

The low was 7066c and has rebounded with today's high being 7585c. It's also worth noting that the real-time price action model reading INTO THE LOWS alerted traders to a buy. See the time-stamped reading with reference point.

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Previous Post (16 February): Trading FirstRand

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