Now on the FLT chart, the first thing I notice is the downtrend, or the repeated lower highs and lower lows.
The Influence over this chart is currently weak or negative.
So while some counter trend trades could be taken when something positive occurs, the upside will most likely be limited, until either something climactic arrives to potentially change the overall influence, or once an uptrend begins with higher highs and higher lows in place.
Yes, there has been a couple of attempts to buy or accumulate the stock. especially the one back in June last year.
But the trend is still down for now, and while the thrust lower maybe shortening, buying it here for anything other than the short term would be difficult.
