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...
Fcmb is in a falling wedge, and in a perfect opportunity for buyers to buy between N1.50 and N1.53 has acted as a perfect support, reaching the apex of the wedge we will see a break upwards, as there are many closer supports and price is already at the apex of the wedge and ready to go upwards
