Eklavya, I put Flight Centre FLT on my long watchlist just the...

Eklavya, I put Flight Centre FLT on my long watchlist just the other day. Technically, it's fallen to a really strong support level and is currently holding that so far. So yes it could turn up from here.

However, it hasn't turned up yet.

If you look at a Monthly chart, the February low of $27.69 has to hold. If it breaks below that then you'll know the downtrend has further to run.

If you look at a Weekly chart, there's quite a clear weekly downtrend line from that 18th March 2016 high you should place on your chart. It's still sitting under that line and has to break up through it before I would invest.

I'd also like to see a weekly higher low occurring after that weekly Trend Line breaks.

So yes, technically it's worth watching long, but the new uptrend hasn't confirmed yet. So I would only watch and wait for the moment. Well spotted though.

I haven't researched it's fundamentals.