FRO monthly cycle and bullish consolidation/flag
FRO cycles fairly reliably on monthly and quarterly intervals. Has been on a slow consolidation since 10/2016 and oscillated on monthly intervals since then forming a bullish flag.
About to go up for a small profit with fairly low risk. Currently sitting on a support line. Expect a gap open on earnings and dividend news in mid Feb.
Also a possibility of a strong breakout past breakout $7.50. Will reevaluate position as it approaches the TP.
About to go up for a small profit with fairly low risk. Currently sitting on a support line. Expect a gap open on earnings and dividend news in mid Feb.
Also a possibility of a strong breakout past breakout $7.50. Will reevaluate position as it approaches the TP.
Note
Seems to be working out. Currently sitting at 7.30. Expect to hit target by end of next week.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.