Warned about a possible bear flag forming on FBR.. seems like it's playing out here now.
Famous Brands currently trading within the channel. I would be cautious of a bear flag breakout though. Tight stop losses.
We see price falling on Famous brands waitig for a break of the trend line
- After a heavy sell off as posted in the previous link below, there is early signs of breaking out of the recent downtrend. - Stock may consolidate first before breaking out - A close below R5378 would negate the idea - NB countertrend trade -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Famous Brands price has been sitting at the 8000 level for some time but a break lower can potentially start the markdown. Following the distribution (See posts below) we were anticipating the markdown to start some time back but it looks like it has finally started.
- Price is in a downtrend below 200ma - Below R75 could get ugly... JSE:FBR - MANAGE YOUR RISK - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Famous Brands has been in a redistribution trading range (TR) and we have been looking for the markdown to continue after a backup to the TR (see post below). The backup (BU) action has formed a smaller trading range that has indicated upthrust ( Which is also the BU of the larger range ). Now we have seen a last point of supply (LPSY) and selling volume on...
Famous Brands started a trading range (TR) at the end of 2017. It turns out that this was a redistribution TR. After breaking the TR there has been an effort to return to the TR but was unable to do this. After the backup, the markdown is set to continue.
Trading Methodology: 1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend. 2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point. 3. A trend-based...
FBR had formed a falling wedge pattern and is now close to a breakout - we will have to wait and see in which direction!
Looking at buying here nice daily wick into the zig zag extension
JSE:FBR Broke flat bottom triangle. Target is around 6000 This is weekly chart so will take time to get there.
Famous Brands was in a Markdown until the end of 2017. The downward stride has been broken after a selling climax and low volume accumulation. We have now seen a spring form and tests on lower volume. The expectation is for the markup in Phase D to start back to the Yearly Pivot Point before a potential Markup in Phase E.