FE trade ideas
FE SEVERAL BOUNCES OFF RESISTANCE ZONE OVER 1.5 YEAR, ACCUMUAt 145.28 resistance zone, seems like a Wave 2 retracement. Waiting for bullish candle/pennant breakout for Wave 3 confirmation, or resistance zone accumulation for a BUY.
Cup and Handle could still be in play on FEWhile price action drooped a lot in the past few days the basic structure of the cup and handle is still in play. I am waiting for a break above res. at $36.50 with strong volume for confirmation before going long.
FE PopsWe can argue the upper trend line. I see two clear touches and a near miss. Never-the-less this has been turning over since July and coiling inside a symmetrical triangle. I see pretty clear indications of market makers (MM) and Insider activity in the price volume dynamics, indicated by flags. I still would have liked to see that 2nd confirmation on the upper trend line but may still get it if the market pulls back tomorrow and it settles back down as support. It popped on good volume, but so did everything else today. Tomorrow should be interesting.
