Flight Centre impacted by COVID regulations Flight Centre has been on watch the past week due to States slowly opening borders. How i see it on the chart is anything below the trend line is bearish, but a close above is bullish. A close above $15.35 signifies a short term bullish move aswell. Neutral on Flight Centre at the moment, but anything can change, looking for a close above $15.35 for an entry.
FLI trade ideas
Last Boarding CallAs the vaccines roll out and the world over comes the pandemic, travel will be popular among many that have been unable to for the past year.
While still heavily oversold (75% below the all time high in 2018) flight centre remains in a good position to bounce back.
Currently in a rising wedge, price is situated on support and is likely to take off.
AWA's Travel Survey (2020)
69% of Australians hope to travel within the first six months of restrictions being lifted
50% are keen to travel for two weeks or more on their next holiday
74% said they would be comfortable spending just as much on their next holiday as they did pre COVID-19
FLT:ASX - FLIGHT CENTRE - Back at resistanceWith all the news of Corona "cures" (aka vaccines) and the holiday season coming up as well as people probably just sick of being stuck at home all year, it looks like some of the Airline and complimentary travel stocks are finally starting to make a comeback. A long way down from old levels there is plenty of upside if people start holidaying and travelling again - domestic or international. Sector could be worth a watch and Flight Centre seems to have a lot of room to move.
FLT - Bullish Trend ConfirmationFLT had been hit hard in the pandemic, and now the price action proves that FLT has found a bottom and expected to head North.
1. It has also printed a higher high and a Golden Cross is in development.
2. Current price action suggests it is finding resistance between its recent high of $19.12 and $17.50 , and may give a retracement.
3. I would be a confident buyer at the 50-61.8% (Buy Zone), between $14.00 and $15.15, also there is a gap window in this zone, which is a confluence.
4. Price Action suggests that FLT has a lot of room to catch up and the next resistance is at $33.00.
I will be monitoring the Price Action closely and will update accordingly.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
about to make golden cross - next buying at 16.25I am bullish on FLT, chart looks positive as about to make golden cross.
There is good support at $16.25 range, so don't think so that it's going to come down further.
Take profit at $19.10 range.
If it doesn't get support at $16.25 range then next support is at $13.50 zone.
I am pretty hopeful that FLT will continue moving upwards.
FLT PredictionAs predicted from my last post, FLT took a big dive all the way down to $11.26 last week. If you bought FLT at $11.26 last week you would be up 27%. It has passed previous resistance however last time it reached the resistance line, it bounced up and plummeted down to $11.26. Due to increasing COVID cases in America and Biden's plan to tackle COVID-19 it may begin a downtrend. However, Australia itself has recovered and hopefully positive news for the Australian economy will come out soon. It the meantime, except FLT to begin a downtrend.
Credit spreads - when things go wrong !
Here is an example of a 'paper trade' that went wrong - and trying to roll the strike down; to recover loss
and lose only brokerage.
initial entry - June 22 Bull put spread with Sold 12.19 July 15 / buy 11.76 - for net credit $700 at around underlying of 13.00
Roll down position of options to avoid being exercised at expiry ( as European sold leg)
second entry - buy rolling down ( and not out to Aug) we have sold 10.68 Jul / buy 10.25 - for net of 0.00 ( after loss of -$900 on initial entry exit)
This is merely a recovery of loss second leg....if this is the worst outcome without being 'execised' and being forced to take delivery of stock at 10.68 then it's a good outcome to lose 6 legs of brokerage at about $30 each =- $180
FLIGHT CENTRE #ASX - Possible Recovery trade- The stock has been severely knocked down ove the last few weeks due to COVID-19 crisis and can possibly still go lower
- It is however trying to form a base and may be a great entry to scale in on one a long position
- SL can be placed below the recent swing and brought to breakeven as soon as possible due to the nature of the trade
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
ASX:FLT
FLT further downside Looks like the post capital raise bounce is done and dusted.
Couldn't believe the bounce to $14 after a cap raise of $7.20 … was immediately on the short radar.
Media sentiment is positive about a recovery but recent price action suggests otherwise.
Stop above last swing high...
FLT, Can we get a "Dead Cat Bounce" or a Rejection of S1?S1 looking for either break up ("dead cat bounce") or break down at this level, if the XJO rallies and has a Rejection at 5980 FLT is a short and will be in trouble. Or if we break S1 i'll be playing short till S2 as FLT has all the Fundamentals against it at this point of time.
flight center demand zone watching for potential buyers within zone to maybe build , understand profit taking is under way currently here,
l'm looking for price structure not just price action , price could slice straight through because of its momentum strength so lets see more data down here from more clues on what price is telling us. Added to watchlist.