In relative terms, the first 7 trading days of September have been reasonably positive for Fletcher Building Limited (ASX:FBU).
Since 2000, the first 7 trading days of September provided an average relative return vs All Ordinaries Index (ASX:XAO) of 3.14%, with a relative win rate of 17 from 21, & a standard deviation of 4.32%.
ENTRY: 5.76
TP1: 6.06
TP2: 6.60
SL: 5.52
- ADX>25
- RSI>60
- FFI and RS +ve
- MA are aligned
- Breakout on 15 Jan 2021 with good volume
- Retraced today on lower volume
Watch List Excercise - Looks like it could be on the move again, Set an alert a few cents above the current high and for the candle to close above the current high, prior to Covid crash.
Fundamentals are rubbish, net profit margin -2.52%, but has made money can make money, Future must be looking bright Trailing Twelve months income is looking better.
See below...
Shorter term view of Fletchers
Potentially 21% return on ya Bucks by February
Looking very Bullish
Fundamentals are Rubbish but who cares this is the Share market things don't have to make sense, just get on the Trend.
Just look at Meridian Energy MEL has shot up 128% since July 9th 6 mths even after losing the biggest customer in New Zealand, the Tewai...
Don't make any money
But the Building Sector in NZ is Good so hopes are they will one day I guess.
Patterns tend to play out the big boys will see it has been to certain levels before so should do it again.
Hope this was really really informative have to write a certain amount to keep Tradeview Happy, one of many many house rules.
Watching FBU move within ascending triangle on 1 hour. Possible chance to break upwards and continue recent trend. But also wary of downward break due to RSI level on weekly being very extended.
Seem to be on a Tare
This happens quite abit on the NZX just out of the blue when RSi reaches 80 Sell Take Profit.
Moving Ave will probably Buy tomorrow Macd Day After usually as they are lagging Indicators but about the best we got i'm afraid, but still work more often than not.
Lost 196 mil last yr
Revenue has been dropping for the last 5 years
-3.34...
ATM Stock Research
FBU Tech analysis Summary –
Around 23rd of May as the emotional selloff was at its peak FBU stocks were sold off heavily and touched the lows of $3.05. The aftermath recovery was short-lived, the stock retraced back from the highs of $4.24 to now @ $3.17. As the gradual ramp up in construction activity unfolds during level 2 and will speed up...
Huge momentum to the downside now on news of lower profit forecast.
How low will this eventually go? Bear flag says 0. The double bottom of 1.65 seems likely.
This company owns so much of NZ construction... What on earth happened during the last 9 golden years in NZ?
ASX:FBU
Rally up into the underside of key MAs, can run a tight stop on this
May want the 200d which would provide another opportunity if it rallies through stop
Short 6.00
Stop 6.10
