Below is a weekly chart of Fletcher Building Limited (FBU).
There was a recent buy signal when PA had a breakout above $7.35 - $7.45 support/resistance area with conviction. Next resistance area is at >$8.00.
Price is trading above both the 50w and 200w sma's closing the week at its highs.
MACD had a bullish up cross in February and has since had an expanding +ve histogram. The histogram is at its highest level (0.158) expanding since the up cross, and for actually, over 3 1/2yrs.
Stochastics bullish higher lows have been formed during Q1 >20, with Base now just inside the bullish continuation region (80.68).
IMO bullish over the next 6 - 12mths.
FBU Price at posting:
$7.62 Sentiment: Buy Disclosure: Held
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