FLT trade ideas
New trend for the stockAs you can see on the chart, the stock bottomed out in 2020 at around 0,5 $. Since then we've made higher lows consistently. Therefore I think the stock is heading in a new direction for good. Since what happened with DJI, I think the market is looking for new drone companies to invest in. UAVS had a really good run while nothing really happened with FLT. Drone technology has infinite amount of use cases. That is why I'm not too concerned with what their goal is right now but rather that they are developing quality software, which they are. If the stock can break 0,96 $ and thereafter previous high at 1,1 $, I think we could be in for a really good 2021.
FLT is for all the marbles, but when will it move? I dont know. FLT is one that truly has power to move incredibly to the upside. The company is doing great things, and is outpacing all competing drone delivery companies by a stretch. They are creating multiple revenue streams, they have a good management team as well.
I think in 2019 they had a huge run to 1.71, the reason being is the hype surrounding the product and the innovation; at which time, people realized they were paying too much for it and it started to lose steam.
The lowest its traded at as of recent is .50. Although I personally dont think it would go down to .50 any time soon again.
I personally think its primed and ready for take off. The big challenge with this one is the amount of bag holders. That will cause lots of trouble, but I see this moving with velocity between the various levels of resistance.
I currently have a position with an average of .64. I will double down if it goes down to .50. Otherwise, Ill be waiting for movement to the upside. Once it starts moving, I may be in an out consistently at levels of resistance or just build into my position while its rising, until it stops going up at which point Ill sell my entire position.
Investing is risky and this is just an idea of a trade that I am personally executing, trade at your own risk.
FLT - Reversal, Head & Shoulders, Breakout!!
2 criterias for breakouts with FLT-C :
- Break a minor downtrend
- Be above 50MA
With these criterias, it worked 4 out of 4 times. Each time it grew at least +25%.
We're at 0.66
The 50MA is at 0.69.
We just broke the minor downtrend.
We're sitting on the uptrend.
We just formed a head & shoulders short-term.
There is a larger head & shoulders under construction which will be confirmed if we reach 0.88$ for a longer play.
Also, on the weekly chart, there isa hidden bullish divergence with Stoch/Price.
Beware of the downtrend line from 2 years back!
Stoploss should be at 0.58
Happy trading!
Drones may fly away soon.Kind of surprising that Drones have not picked up during the beer virus phenomenon, but I think there is a lot of opportunity for growth for the drone industry.
Obviously price action has not come down yet, but the game plan for this play is to wait for price action to come back down to .57 and if it prints a bullish divergence, then it may be a good time to enter for the breakout of this wedge and hopefully it may also mature into an inverse HNS.
