Long

FLT - Bullish Trend Confirmation

Updated

FLT had been hit hard in the pandemic, and now the price action proves that FLT has found a bottom and expected to head North.

1. It has also printed a higher high and a Golden Cross is in development.
2. Current price action suggests it is finding resistance between its recent high of $19.12 and $17.50 , and may give a retracement.
3. I would be a confident buyer at the 50-61.8% (Buy Zone), between $14.00 and $15.15, also there is a gap window in this zone, which is a confluence.
4. Price Action suggests that FLT has a lot of room to catch up and the next resistance is at $33.00.

I will be monitoring the Price Action closely and will update accordingly.

Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.

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Daily Candle closed Bearish at the Resistance Zone.

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Coming down as expected.

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Expecting price to come down to Buy Zone(between $14.20 - $15.00), for potential buy setup.

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As expected price has to come down to Buy Zone(between $14.20 - $15.00), and has formed a Bullish Candlestick. I will wait for one more day to show some more Bullish Price Action to take a Buy Position.

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Price briefly came in the Buy Zone and turned around quickly. I was expecting a little consolidation and the Gap Window to close but Price did not fill the gap though and has shown bullish price action and closed above.

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MACD Histogram has changed color and about to cross which is a sign that Bearish Momentum has shifted or diminishing and Bulls may take control and take price up.

Stochastic has crossed after moving down to Oversold levels, a sign that price may continue to the upside.

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FLT has pulled back lower and closed the gap now and is consolidating in the Buy Zone of $14.20 - $15.20, but has not yet shown any Bullish Price Action with High Volume. I am bullish FLT but I need to see some good Buliish Price Action coupled with High Volume to take a Buy Position.

Note

FLT had been consolidating in the Buy Zone of $14.20 - $15.20 and has even managed to close above the downtrend line but the Volume is very low. MACD has crossed too but now we need to see a follow through with High Volume or it could be a False Break Out (FBO). Lets see what it does in the next trading sessions.

AsimMirzaTrader

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