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FactSet (FDS) Bullish Monthly Set-Up

FactSet (FDS) Bullish Monthly Set-Up

by | Jul 23, 2021 | Chart SetUps

FactSet (FDS) a long-time quality name that sees very little recognition and sees its wealth business in the very early innings. There was a media report in April regarding it receiving some buyout interest which would make a lot of sense. FDS forming a large weekly triangle and starting to work off a nice support base, clearing its key volume nodes, and a monthly bull MACD crossover about to trigger. There are some concerns with deceleration in organic ASV growthdue to competitive pressures, mix, secular headwinds from the shift to passive management and difficult comps associated with the RBC contract win. FDS may also face margin compression from its bonus accruals and investments into content and technology. The chart points to a breakout with the 1.382 Fibonacci extension target at $389.