A bearish sentiment continues on Famous brands with the a rising wedge pattern developing on a daily price chart. Price has broken down and if it closes below and it will probable that it will go down all the way to a first target of R55.
Moving Averages 7<21<200
RSI <50
Famous Brands (FBR) is Africa's largest branded fast-food retail franchisor with seventeen brands and 2898 restaurants. It has 2522 restaurants in South Africa, 65 in the UK and 311 in the rest of Africa and the Middle East. The company owns well-known South African brands like Wimpy, Debonairs Pizza and Steers. For the last two years, even before COVID-19, the...
Famous Brands (FBR) is Africa's largest branded fast-food retail franchisor with seventeen brands and 2850 restaurants. The company owns well-known South African brands like Wimpy, Debonairs Pizza and Steers. For the last two years, even before COVID-19, the company has been battling to grow in an environment where the consumer has been hammered by rising fuel...
Cup and Handle has formed on Famous Brands since the breakout of the downside.
We see the liquidity is thin as the volatility(jumpy) motion is high...
This is why I would make a large gap between E and Sl...
Other signs confirm upside including:
Price>200
RSI>50
Target R77.62 however. I do want to see more of a definitive break above the Brim level before all...
FBR has been struggling to regain TL support (blue) for the last few trading sessions and now looks like it has finally broken its uptrend. There is a good area of support at the horizontal line further below at around R51.50 which should provide a good long opportunity. However, with these illiquid stocks, it might be a good idea to nimble beforehand, possibly...
FBR has been making Higher lows since the lows were made back in oct 2022.
resistance level of 64.00 has now become support and bulls should be in full control of this new uptrend.
This is primarily for the long-term investor and I highly recommend getting the corporate commissioned research done by Standard Bank Securities, published 06.03.2023 on their LinkedIn page.
SBG Securities have a Future Value Valuation Range between R76-89.
Investing.com Pro is not too far off with a fair value of R94,62.
Technically, the share looks to have a...
Stock has been oversold and recently published results.
Positive divergence on the stochastics at a support level.
Possible move up from this low risk/reward level to first target level of R56.00 then possibly above R60.
A daily close below R50 will be viewed as very bearish (possible H/S pattern as well).
- Reversion to the mean trade
The stock has been beaten down with the rest of the market and reached an oversold level of interest.
While we can hold R52, i will be targeting R60 / R65
Price has broken out of the rectangle consolidation and is nearing the WEMA200. If initiating a long position be wary of the EMA acting as resistance. As always manage your risk.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
It's been just over 13 months and my FBR long idea is up by 43%. Today it tested R60 but is still below the year-to-date highs, which I believe will be tested again and perhaps even surpassed.
Yesterday, the company released a market update, which appeared very decent. I think you remain long this one, with a trailing stop.
The original 03 August 2020 idea has...
- The share looks to be in the late stages of accumulation with a nice pattern displaying contraction in volatility (flat top triangle)
- A break on volume could see price move towards the 200 moving average (weekly) which is currently in the R80 zone (The price it was in the beginning 2020)
- A close below R43 would negate the idea and be bearish for the...
Famous Brand was beaten down from 7000 levels to 2000 level on COVID news. Since then it has been on a upward trajectory with resistance around 5000 levels. Watch for a break of that 5000 level and a daily close above that level for a move to higher levels. Targets would be 5450, 6370 and eventually a reclaim of pre COVID levels.
No position.
Famous Brands: I'm expecting a follow-through on the name, based on the following technical drivers:
- Higher lows
- Prior MACD-Signal Bull Crossover
- Current MACD Zero Bound Bull Cross
- Recent (29 July) 8-21 EMA bull cross
- Rounding, 1-month base formation
- RS Acceleration
Stop: R38.70
