FTDR broke out of the wedge it had been forming from May until November.
It broke through it's $45-resistance and retested it.
This $45-line has been an important price zone considering it had:
Broken out in July '19
Failed the retest on Nov '19
Failed breakout from Dec '19 to Feb '20
Rejected March '20
Failed breakout May '20 to Jul '20
FTDR been moving sideways for about 2 months forming a well defined #rectangle #chartpattern. The breakout from the rectangle will coincide with a down trend-line on the weekly scale adding to the importance of the daily breakout. On my watch list for a long entry.
and I'm looking at this paper above the level.
the tool gaining position.
It cannot overcome the resistance line formed by the paranormal bar.
I'm waiting for the breakout and I'm going to go into the long.
let's see if the market will let us trade long
Entry level $47.87 -= Target price $49.57- $52
Average analysts price target $52 | Overweight
P/E ratio 26
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