FBC forming a flag formation & seems ready to break upward. It rallied up, broke the over head resistance and formed a flag formation. Now its ready to breakout.
* Trade Criteria * Date First Found- February 16, 2017 Pattern/Why- Flag formation Entry Target Criteria- Current price ($28.54) Exit Target Criteria- $31.77 Stop Loss Criteria- $27.47
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
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February 17th- We considered a position in the morning as we discussed to Long from current price. It pulled back to MA resistance and closed strong. This is looking good.
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March 6th - flag is breaking down, likely to stop out although it closed strong
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March 13th - Went up & tested MA20. but could not hold to it and closed bearish. Wait & see situation.