FLT - Retracing Nicely towards Support.

Long

FLIGHT CENTRE TRAVEL GROUP LIMITED (ASX:FLT)

Updated

ASX:FLT FLIGHT CENTRE TRAVEL GROUP LIMITED

trendanalysis chartpattern waveanalysis asx asx200 asxlong asx200long trendlinesupportzone goldencross flt

FLT seems to be retracing nicely to the trendline Support at around $12.80, as it has shown strength previously also, and made a Higher High. We can also see that it has made a Golden Cross, with RSI about to reach the the Oversold region. The High Profile Volume Zone lies at around $13.80 and 200 SMA in the Buy Zone between $12.80 - $13.80 (many Confluences). I think the Green Box should provide good support, and I expect a bounce off from that Zone.

If it does bounce off, we can expect it to go towards the previous highs giving a potential return of 40% at TP.

Please note these are my own notes, for my future reference only. By no means trading advise to anyone. Please do your own research before entering into any trade.

Comment:

Comment:

FLT had been pulling back with in a tight Bullish Wedge and has now broken out of it with MACD giving a Bullish Cross, but we do not see high volume suggesting that this maybe a False Break Out. If there is a break with High Volume, only then I will get interested to buy.

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