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Wednesday, March 28, 2012

FLR Long Setup

FLR is a conglomerate of heavy construction, engineering, and project management for government, oil & gas, mining, and power industries.  The daily chart does not show anything negative.  The 20 MA is above the 50 MA which is in turn above the 200 MA.  The MACD is resetting as prices consolidate into a symmetric triangle centered around the previous horizontal support.  With current price just above the 50 day MA, it should be an objective long entry with stop just below the 50 MA on a closing basis.  Additional entries if and when the symmetric triangle breaks to the upside.

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