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FSL Trust: Challenging resistance.

Monday, October 4, 2010

On 27 Sep, I mentioned that "Trading above the gap which was closed at 43.5c now brings the next resistance at 46c to play.  I see an eventual target as defined by the descending 200dMA, currently at 51c."

FSL Trust has been experiencing buoyant price action since then and 43.5c has been established as immediate support.  This is likely to be underpinned by the rising 20dMA. 46c is still the resistance to watch although it was briefly taken out today on higher volume. Eventual target remains defined by the descending 200dMA, currently at 50.5c.

Related post:
FSL Trust: Rising from the depths.


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