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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Bullish Pattern For Fluor Corp (NYSE: FLR)  0 comments
    Aug 6, 2012 3:42 PM | about stocks: FLR

    August 7, 2012 (By Frank Kollar)

    Shares of Fluor Corp (NYSE: FLR) have formed a bullish bottoming pattern on their daily chart.

    Using a daily bar chart, FLR has a well defined head and shoulders pattern, with the first shoulder formed on about June 4th, the head formed on about June 25th and the second shoulder formed on about July 12th.

    Chart Courtesy of StockCharts.com

    This is a bullish pattern that forecasts a bottom and new upside trend.

    FLR has strong support at $48.89 where a sell stop can be placed if a bullish trade is placed.

    The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy does have a position in Fluor Corp.

    Disclosure: I am long FLR.

    Stocks: FLR
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