Kijun Sen Cross found on FLI

FLI rose by 6.3% to close at 1.36 per share. Looks like this stock has awaken after sleeping for few weeks. The recent retrace of FLI registered at 78.6% Fibonacci Retracement level which suggests that a bounce from this level may hit the 127.2% Fibonacci Retracement level or around 1.50 per share. But there is a big challenge for FLI. It is the 23.6% Fibonacci Retracement level where we have seen a lot of action. This may be a hard resistance to break.

Today’s movement results in a neutral bullish signal via Kijun Sen cross. The price pierced through the Kijun Sen line but since it happened inside the Kumo it is call neutral.

Caveat!

Leave a Reply