Ok so apparently i upset someone with reasonable posts so lets try some technical anaysis
RSI = Over 60 and rising - approaching overbrought land ( ie selling pressures rising) Support 8c up 14% today hodling above the second support line at 10c Chakin Money flow over 1 - supportive in the medium term Has risen above the 11 day moving average - indicates tomorrow it should come back to 10.5c or thereabouts MACD is back under 0 on 11 and 21 and 31 day basis ( points to money flowing out even leading up to an up day - further evidence of an exhaustion rally) Bollinger bands becoming tight - indicates reversal of trend supportive to the upside to 13c OBV back to 0 indicating neither money bidding up nor down - netural in the 20 day average 30 day momentum indicator back to 0 indicating volumes are falling and will probably continue to fall
Overall it supports my view that 6-8c trading range with limited medium term apart from exhaustion rallies and the lack of big buyer stepping up day per day and the chart supports this view.
FDL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
