WILL BE WATCHING FOR A SHORT HERE PRICE PUSHED THROUGH MONTHLY UPTREND LINE ON BIG VOLUME AND IS NOW CORRECTING UP BELOW THE TRENDLINE. WILL BE SHORTING ON A BREAK OF THE CORRECTION THE MORE UP WE GET THE BETTER REALLY. AIMING TO BOOK PROFITS AROUND THAT DEMAND ZONE BUT THERE IS A POSSIBLE RETURN TO THE MONTHLY 200MA TREND TP2.
FLO has pending litigation which has caused stock to fall to it's 120 period monthly moving average. Stock has not fallen below this for past 20 years, and I think should help it retrace about 23.6% of decline and fill the gap sitting there (around 17.5)
Unusual Option activity Volume in FLOW puts ahead of earnings AMC. about 5,126 Puts to 345 took the Oct 2016 $17.50 strike @ $1.20 working good so far follow the money.
* Inside Hammer + NR7 * High Vol. last week, with price consolidation on lowering vol.
I see the Flo stock in an uptrend. In this trend we are just finishing a downswing. coming close to a support. The OBV is rising. and we touched the lower keltner band. I do have an entry signal, my stop is below the 21.95 and my target is 24.00.
Higher lows, above resistance and getting ready to test downtrend with solid support near by.
long setup. resistance breakout in up trend. trigger= breakout/close > $33.20