FMSAFMSA dropped down from its recent high & upward channel. Seems forming a bear flag. Moneyflow is negative & heading down.
We are looking for two entry criteria, retest of resistance at 7.4 or break of support of 6.3. either way our target is 5.27.
You can check our detailed analysis on FMSA in the trading room/ Executive summery link here-
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Time Span: 5:20"
Trade suggestion date: 18th Jul
Trade status: Pending
FMSA
FMSAIt has a strong push after a nice divergence on the charts. IMO I think it has broken thru a key resistance point price that is going to turn into a nice support level. $6.85 has some significant Fib confluence going on that IMO makes it a strong case for a turning point for the next little leg up. One might argue that there is a bull pennant formed. But which ever way you look at it, the case for a bounce off this area is high.
$FMSA short into resistanceFMSA has been running for the past week and the only reason this one is on my eye is because it is approaching the 8 dollar whole number resistance where it has failed previously, so i'm watching for the test of the 8 dollar mark then the fail. i'm going to enter short into a morning spike leaving a little bit of wiggle room for my stop slightly above the eight dollar mark.
