FOSL is finishing off a bearish butterfly construction as the latest leg higher into rising channel resistance near 125. This level coincides with the 78.6% retracement of 2012's range and structured measured move resistance given off by the channel.
Through 127.50, FOSL finds itself contending with the same level as 2011 and 2012's topping structures between 125-135.
Over these obstacles, broadening top trend line resistance at 150 comes into play (sometime in late Q1 or Q2 2014 if the current trajectory holds).
Through 127.50, FOSL finds itself contending with the same level as 2011 and 2012's topping structures between 125-135.
Over these obstacles, broadening top trend line resistance at 150 comes into play (sometime in late Q1 or Q2 2014 if the current trajectory holds).