Fluor Corp. (New)
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|It was a second positive week after 3 consecutive negative weeks for the Fluor Corp. (New) (FLR). During the week, the FLR gained 0.63 points, or 1.37%, and closed at 46.60 on Friday, November 09, 2018. Weekly volume was 38% above average. |
FLR is a member of Services Sector. Services is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See FLR long-term trend chart]
A long-term downtrend had started on January 22, 2014 at 83.93 and reached 37.04 on August 21, 2017. FLR lost 46.89 points, or 55.87%, in 186 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (35.16) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. FLR may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See FLR medium-term trend chart]
A medium-term downtrend had started on October 2, 2018 at 60.60 and reached 42.22 on October 26, 2018. FLR lost 18.38 points, or 30.33%, in 3 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Weekly Technical Indicators: [See FLR weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since October 12, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See FLR short-term trend chart]
A short-term uptrend had started on October 26, 2018 at 42.22 and reached 49.45 on November 7, 2018. FLR gained -7.23 points, or -17.12%, in 12 days. The chart has formed a Rectangle chart pattern.
Daily Technical Indicators: [See FLR daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.
The daily MACD line is above its signal line since November 1, 2018. This is an indication that the short-term trend is up.