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!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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