OriKopel

FLEX Ascending Triangle Breakout

Long
NASDAQ:FLEX   Flex Ltd
Very strong trend,
MACD bullish for the weekly, daily and 4h time-frames but bearish for the 1h time-frame.
Supprt zone (Green rectangle ) is stringer than usual due to the several EMAs in it.
Likewise, we now have a bullish crossing of 200EMA & 100EMA indicating how strong the trend is and acting as support too.

Yesterday FLEX recieved the Cisco award for sustainability but it doesen't seem to be significant.


Expecting to see the price drop all the way to the trendline support
You can also see that whithin the triangle, every time the RSI passed 65 the price dropped back to the trendline support
The same pattern applies to the bollinger bands indicatore. Every time we touch the upper band, the price drops and retests trendline support

Will be waiting for the price to retest the trendline support and then I will enter, sell the first partial before breakout and the second one before the 1.414 fib resistance.