FL has had an enormous earnings pop completely against the market on a very bearish day to end the week.
It has tagged 0.5 fib retracement which is also an area of key resistance.
RSI is the highest since 2018.
But what is really attractive is the enormous double gap both down and up.
And considering I am confident indexes are now bearish in the mid term, this looks like a great short.
Indexes are still potentially in distribution I think and so they may open bullish which would perhaps provide a good entry.
Not advice.
It has tagged 0.5 fib retracement which is also an area of key resistance.
RSI is the highest since 2018.
But what is really attractive is the enormous double gap both down and up.
And considering I am confident indexes are now bearish in the mid term, this looks like a great short.
Indexes are still potentially in distribution I think and so they may open bullish which would perhaps provide a good entry.
Not advice.
Comment:
I've looked again at the chart and I dont like it. Better trades elsewhere.
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