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FXL

ASX:FXL hit by a smooth Criminal 😫🥵👿🚨ASX:FXL has been the dog of the year in the BNPL domain. It has shown no willing to follow its counterparts when it comes to rallying to the moon. However, leaving aside all these moonboys dreams, lets see what the technical analysis has hidden inside the charts. I tried to add few labels to the chart to make it self explainable but I cant miss to point the following: - A rejection to a key point in any market 200MA - An attempt to flip PSAR that worked but the flip level was quickly rejected - An attempt to break out of the pennant structure that was immediately rejected - an epic rejection volume. To me with these points I believe bears are still in control of this stock and until I see signs of breakout I cant tell anyone to buy. For those holding it you can hold as the structure is not broken. The price may be under pressure in next week but until the anchoring point is not broken you can hold. Keys point to watch out on this stock: - price breaking out of 1.320$ level - price breaking above the pennant - price breaking the 200MA and closing a week candle above that level. I will keep an eye on this stock for you and get you alerted when things change. Have a good weekend and keep smashing the likes. XTF.
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by xtf_ze_trader