Flight Centre Travel Group Limited is a travel retailer and corporate travel manager. It has its own leisure and corporate travel business in approximately 23 countries, including New Zealand, the Americas, Europe, the United Kingdom, South Africa, the United Arab Emirates, and Asia. The stock is listed on the Australia Stock Exchange. The price chart formed a 3-month-long rectangle with the horizontal boundary acting as strong support around the A$16.30 level. A daily close below the A$16.10 level will confirm the breakdown from the 3-month-long rectangle with a possible chart pattern price target around the A$14.50 level.
Trade active
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Price closed below the A$16.10 level today and I've taken a short position.
Trade closed: target reached
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The price target of A$14.50 was reached and exceeded last week.