FTC 25.0% 0.6¢ fintech chain limited

Ann: T-Linx expands its reach in Xinjiang Province, page-60

  1. 1,625 Posts.
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    It looks to me like a Cup and Handle pattern from May to May as highs, 22c then 24c this last May.... Then we have a descending triangle for the handle with descending volume over the following 2 months. The descending triangle is usually considered a bearish pattern, but if broken to the upside can easily lead to a retest of the recent highs at 24c. The historical support seems to be at the bottom of the triangle at 14.5c, and after that 12-12.5c, which also happens to be a gap close from May 2019 at 13c.

    Considering that before the last 3 bank deal was announced 2 weeks ago, the 14.5c support managed to hold for so long, I think we may see it hold here. On top of that, the support test coincides with the announcement next week of the directors report and audited yearly, which very well may have some updates and guidance on revenues, etc.

    Further back in the history there is a gap up 43.5c to 47c, a one day drop from $1.28 to 73.5c on 488K volume, a gap from $1.28 to $1.50, a gap from $1.70 to $2.25, and all time highs of $4.04...

    Will be interesting to see what unfolds over the next week or 2 and which directions it breaks in ... Very good and clear news could see this move fast in the upwards direction.
 
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