Jsefbr
JSE:FBR Famous Brands Backup Potentially CompleteFamous 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 earnings and we can expect the markdown to start.
JSE:FBR Famous Brands Markdown Set to ContinueFamous 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.
$JSE-FBRJSE:FBR
Broke flat bottom triangle.
Target is around 6000
This is weekly chart so will take time to get there.
JSE:FBR Famous Brands Eyeing MarkupFamous 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.
