Anything below 40c is a great accumulation zone, as historically (since 2018), the chance to make a profit from that level stands at 100%. However, due to the changing nature of FLC TA behavior, 40-43c might reflect a better accumulation zone. I suggest this because we are making higher lows, which i suspect could be following a obtuse parabolic channel (green lines). We have converted a few of the weekly indicators for the first time in a while. AO is positive this year along with Cash flow and the Wave Trend is trending overall in a bullish manner. A few things to note on the chart above for those interested in swing trading, the Wave Trend has historically been good for entries in this stock (yellow flags), with channel mid being a good exit top when stock is in an ADX no trend state, with upper channel a good exit when ADX is in trend.
Moving onto volume profiles and the Ichimoku. Firstly, volume across time: We can see a close up of the enormous demand volume uptake (March-April, 2019) on the Weis, with very consistent albeit small (in comparison to demand vol spike) profit-taking supply releases thereafter. Prior to that demand spike, we can see large amounts of supply being thrown onto the market (pre-2019). A lot of the abrupt near verticle spikes are usually caused by insto's or soph investors so this signals someone exiting. Overall, supply release has dwindled this year, with demand jumping (a good sign of floor potential and seller exhaustion). On the subject of volume across price: Since November 2017 to present, 70% of all shares have traded between the range of 38-49c, with 39c being the POC (point of control). This means that 39c is a price where most of the volume is exchanged over this time period, and a significant level the stock will jump to if below or fall towards if too far above. That being said 41.5c is slowing taking the crown as a new POC level, a bullish sign for investors or position traders. Currently, based solely on volume, anything below 38c is highly prized, and anything above 50c, overvalued. My sentiment is Hold if you have boughten in already, as there's likely to be another spike if you want to offload and for onlookers, I would suggest waiting a bit more for potentially better entry prices (currently doing just that). DYOR and GLTAH
