FDL flinders diamonds limited

for turboprop

  1. 8,683 Posts.
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    Hi Turbo,

    I've just eyeballed FDL. Can't say this will be an indepth analysis - but first impressions are usually good ones.

    After the big rise in November, FDL is in a long sideways consolidation. In EW terms, it looks like wave 2 of a 5 wave upwards thrust. Wave 2 looks like an ABCDE consolidation - currently at D on the count.

    So one more move down then probably wave 3 to start. The move down could go back to 7 or 8 cents.

    The sideways consolidation after the big move up can be expected on probabilities to break upwards.

    Weekly chart is holding up well on the indicators (MACD, Slow Stochastic, OBV).

    But don't blame me if it goes south. :)

    A break below 7 cents would be a big negative.

    Cheers
    Red
 
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