FRO looking for buying opportunity
SO FRO is another one that arrived at strong support and that has several hopeful signs.
- Fundamentals give a value of NOK 98,- as a target.
- Recent downward trendline has been broken.
- Bounce on a long term upward trendline.
- Gap at 100.50 that needs to be filled.
However, for now FRO got rejected at a pretty strong resistance. So basically I want FRO to build a good support and hold the trendline before breaking this resistance at around NOK 72,- AND get into the daily cloud.
If this happens then I would consider that a good buying opportunity.
- Fundamentals give a value of NOK 98,- as a target.
- Recent downward trendline has been broken.
- Bounce on a long term upward trendline.
- Gap at 100.50 that needs to be filled.
However, for now FRO got rejected at a pretty strong resistance. So basically I want FRO to build a good support and hold the trendline before breaking this resistance at around NOK 72,- AND get into the daily cloud.
If this happens then I would consider that a good buying opportunity.
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