FLDM has shown a break out in the wedge pattern.
The upper trendline which used to be resistance can now become the lower trendline functioning as support.
We also see a pull back to the support trendline (previous upper trendline) in the form of a bull flag pattern.
I identified nearby resistance level at 8,30 (which you can find on the monthly chart). Price...
On the chart you'll see that this stock is nicely trading between the trendlines. I am long biased, but you can make some profit on the downside as well.
I will wait until the price hits the lower trend line (around 3,5) and buy shares.
My stop loss will be just under the trendline, around 3,30.
My profit target will be around 4,30.
Happy trading!
