Bullish FCMBThis is for my Nigerian folks.
Price is looking extremely bullish on this stock.
Here are my reasons for investing on this.
1. In Mar price took out the low of Dec and is currently trading towards the buyside liquidity (Jan high) at 12.90
2. Price is in a weekly fvg and we've seen a CISD on the daily which further solidify my bias.
I'm long till 13.00 for a 2.6rr
FCMB trade ideas
Will FCMB Support zone Keep Bears at bay?In this critical bearish period on the NSE market, one of the stocks that is still "not following the general downtrend" is FCMB in the banking sector. For the past couple of weeks, 1.55 level have been rejecting any attempt for price to move the stock price below this level.
Will this level continue to keep the bears at bay or will it be violated?
A buy entry at 1.55 seems reasonable while the market continues its downtrend journey...