FTI Consulting (NYSE: FCN) is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional.
Pullback to previous breakout level with re-emerging strength.
Technicals
Stock is channel bound with expanding volatility.
Upthrusts are weaker when bouncing off the resistance.
Has a weaker relative strength than the market.
Overbought and prime to reverse.
Good amount of profit taking at the top of the channel.
Fundamentals
Revenue is good but margins are compressing.
2021 was an anomaly year, they had solid cash flow...
$FCN has been on a run for a little under 2 months consecutively. Today, it double topped at $145, which leads me to believe we may see pullback. Will that be enough to end this great run? I sure hope so in favor of my current short positions. But as always Only Time Will Tell.
FTI Consulting falls under the radar for a potential LONG with this falling wedge pattern in play . On the 25 Feb we have Earnings numbers coming in and during December 2nd 2020 the board authorised 200 million Dollars for the re purchase of its Shares.
The Falling Wedge CAN FAIL the same as any other triangular pattern so make sure you wait for confirmation...
FTI Consulting recently announced earnings that exceeded both the top (revenue) and bottom (EPS) expectations. The stock broke above its 200 day simple moving average and formed a nice bull flag in the process.
Look for 200 SMA to act as support lifting stock higher.
1. Horizontal price levels are working well on the stock
2. Weaker than the market
3. globally uptrend, locally downtrend
4. price level was conformed by a touch
5. distant test
6. approaching the price levels with paranormal bars
7. point of the trend reversal
8. potential more than 20 to 1
An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Same concept again but in this case the gap is not visible from the daily chart.
Now is Friday night.
I am an end of day Analyst and y support my ideas from weekly charts and this mean
I need the closing Friday prices to do my analysis, given the relevance of the weekly charts
logically I also do analysis during the week because I need a confirmed weekly breakout...
