In Retrospect: WEB, FLI

WEB

WEB is still consolidating inside a triangle. The recent breakout had volume but the succeeding trading days saw price action moving inside the triangle. This has somehow formed a new ascending triangle with resistance at 0.060. Breakout from the ascending triangle might still be far. As of current 0.050 is a strong support.

FLI

FLI’s symmetrical triangle has been converted to an ascending triangle with resistance at 2.04. Price hit the resistance and then fell back to as low as 1.84. Wait for further movement as price may still move to as low as 1.80. Price at 1.80 is a good level to buy as this is the support line for the ascending triangle. If price breaches 1.80 sell. If price moves sideways and establishes 1.88 as a strong support, buy.