Goldybug

FRES - Descending Channel and BB testing

LSE:FRES   FRESNILLO PLC ORD USD0.50
Since May FRES has been descending in a fairly well defined channel. I anticipate this to continue dropping beyond earnings report on 3 Aug. Furthermore, share price is not testing the upper Bollinger Band and hardly testnig the mid line. My target for entry or top up is sub 700p where it will be exceptional value. From that level expect a long and protracted rise into Q3. If you agree please give me a thumbs up. Good Luck. Posting is my opinion only.

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Hi you may be right. I’ve calculated from an Elliot wave perspective and got it bottoming at 7.70. Although it hasn’t started it’s up miff be e yet I expect 7.70 to hold. The EX dividend date is less than 3 weeks away. Full year div works out at 20% + at current buy in price and the part dividend due in Sept 8%. Because of this I think the 7.70 will hold. Time will tell, good luck !
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