FLT - Retracing Nicely towards Support.
FLT seems to be retracing nicely to the trendline Support at around $12.80, as it has shown strength previously also, and made a Higher High. We can also see that it has made a Golden Cross, with RSI about to reach the the Oversold region. The High Profile Volume Zone lies at around $13.80 and 200 SMA in the Buy Zone between $12.80 - $13.80 (many Confluences). I think the Green Box should provide good support, and I expect a bounce off from that Zone.
If it does bounce off, we can expect it to go towards the previous highs giving a potential return of 40% at TP.
Please note these are my own notes, for my future reference only. By no means trading advise to anyone. Please do your own research before entering into any trade.
If it does bounce off, we can expect it to go towards the previous highs giving a potential return of 40% at TP.
Please note these are my own notes, for my future reference only. By no means trading advise to anyone. Please do your own research before entering into any trade.
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FLT had been pulling back with in a tight Bullish Wedge and has now broken out of it with MACD giving a Bullish Cross, but we do not see high volume suggesting that this maybe a False Break Out. If there is a break with High Volume, only then I will get interested to buy.