My Stocks Investing Journey

F&N: Trading in a Triangle

F&N is current trading in a Triangle. Upside capped at the Triangle Resistance and 200D MA resistance between $5.90 and $5.95. Base on current chart, downside risk is higher than upside potential as the 200D is trending down in additional to current poor world economy and debt crisis.  Breaking down from this Triangle will send F&N to the price target of about $4.75.

F&N: Upside Limited

Base on the chart, F&N uptrend is still intact however upside is limited due to the following two reasons:

1. Resistance at about $5.80
2. Current PE of 21.5 is higher than the past 3 years average PE of 20.8 and also the STI PE.

It will be interesting to see whether F&N can hold above the up trend support at about $5.30 to $5.40.