It has been on quiet a significant down trend that started in February 2021.
It has three levels of support outlines .90 (failed) .79 (to be determined) .60 (to be determined)
Average trading volume.
The TSX has been on a Decline that started September 6th. However, FLT has really under performed the market as it has been on a long term decline at this point.
The more I look into it, the more I feel that FLT was un-fairely left behind, I see potential with this holding. They are far ahead of others, specially here in Canada, in developing the technology required for their intended operations.
- If we hit a level of support and both the TSX and this stock show signs of reversals. - Stock starts moving up forming a new trend (above moving averages and trend lines) - insiders start buying back in (which creates a huge level of support) - increasing volume
Those conditions would be ideal.
More likely, if I see rising volume and a move above the trend line, I would take a chance, specially if the overall market conditions are decent.
This really could be very decent if we are patient enough with it.
Nice Post BTW. I am personally looking at the 80 cent zone for an ADD to my current holding.
Larry097
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great breakdown. i also believe this is a great long term holding. definitely need to see some more consolidation and a real bottom put in before taking on a position.