Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Bullish Pattern For Fluor

ByFrank Kollar
Published 04/03/2012, 03:53 AM
Updated 07/09/2023, 06:31 AM
FLR
-

Shares of Fluor Corp. (NYSE: FLR) are trading in a potentially bullish pattern.

Using a daily chart of FLR, draw a line through the highs since February 2012 to the right of the chart. Draw a line through the lows to the right of the chart.

This is a pennant pattern and in this case the pattern is a very definitive one. Typically when the price breaks out of a pennant pattern either to the upside or downside, it is a start of a new trend in the direction of the break.

Also, the break out of a pennant pattern tends to go in the direction of the previous trend, in this case an uptrend from the December 2011 lows. We would expect the pattern to break to the upside.
FLR CHART

The pattern is a fairly dependable one and a trade in the direction of the break could be a profitable one.

Disclosure: Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market and the 2008-2009 bear market his bearish positions resulted in substantial gains, all achieved by trading trends.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.