FRX 0.00% 1.9¢ flexiroam limited

picking up 20 c coins for 3 c, page-137

  1. 4,717 Posts.
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    For those that use tea leaves, the chart to me now is far more positive in its outlook.

    The descending triangle looks far more like and equilateral triangle that has a much greater chance of breaking upwards. This is especially true as the MACD is now showing definite signs of life. The shorter term 7 and 30 day moving averages look ready to cross and any small break above the 200 dma, which is still trending upwards, would be very bullish.

    The lack of selling/supply at these levels is also still a positive.We just need a few really big volume days to work through the stale/bored holders.The looming CR will of course always be a constraint on just how high any breakout may go to.

    All my own thoughts on the technical analysis as we await direction from the fundamentals.

    Milesy

    https://hotcopper.com.au/data/attachments/3702/3702322-63871773c5784106eb8e585ac5b26696.jpg



 
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