Planet Wealth - Australian Stock Market Education » FGL down trend channel http://planetwealthblog.com.au We are a stockmarket investment company that educates people on the strategies we use to create both income and capital growth. Fri, 23 Dec 2011 00:20:36 +0000 en hourly 1 http://wordpress.org/?v=3.1.1 FGL down trend channel http://planetwealthblog.com.au/fgl-down-trend-channel/ http://planetwealthblog.com.au/fgl-down-trend-channel/#comments Thu, 16 Oct 2008 12:45:41 +0000 Planet Wealth http://planetwealthblog.com.au/?p=99
FGL down trend channel

FGL has spent the last 12 months trading in a down trend channel.

(click on images to enlarge)

161008 fgl 1 FGL down trend channel

 

At the beginning of September the stock broke through the resistance that the channel had been providing, then came back down and bounced off the same line using it as support. The stock then ran up to $6.00 and back down again to the current trading price. If FGL uses the weekly support line and bounces, there will be a Higher Peak (HP) and a Higher Trough (HT) suggesting the Buyers are in control, at least for the short term.

FGL

FGL

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