FLT 0.00% $9.91 flight centre travel group limited

Forget about the correction or retracement or anything! Just...

  1. 237 Posts.
    Forget about the correction or retracement or anything! Just take a llok at the chart. I was just browsing through a few and saw the chart on FLT and freaked. This is a long-time downer. It won't matter if the market picks up or that brokers think it's undervalued it is gone, full stop. No telling where the downtrend would stop but it's a long way away. It will get plenty of buying to take it back up around $14, 15 or even higher, but this sort of trend is terminal. Anyone holding FLT should head for the exits while there is still time. Also I saw the result from Priceline (Travel/tickets) in the US which gives an insight into the trouble FLT is heading for. Their turnover was up something like 100% but earnings lower and expected to be flat while costs continue to rise. In July Qantas will cut FLT's commissions to zero, but is FLT saying how that will impact. When is does look for a downgrade again and it is all over.
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