It has been almost a year since my last comment on FLT whose price remained depressed throughout the last wave of Covid. With travel restrictions loosening it would see likely that FLT will recover some of this lost ground. Since the low in March 2020 (Covid) FLT has traded in a relatively tight band in a rising price channel. Having recently risen off the lower boundary of that price channel it seems likely it should have a target somewhere near the upper boundary. There is a possible ressitance break at last weeks high which, if price breaks higher, should see a target of $27. Ultimately prices usually break down out of rising channels so there is some need for concern if price fell below that lower boundary.

FLT broke above a weekly downtrend last week and assuming price closes above that line this week, that is a technical buy signal.

FLT 11 Feb22 

26 Feb 2021

Following FLT's price collapse from Covid travel concerns, price has recovered slowly in a seesawing sideways action - something commonly seen in shares following large falls. It has been knocking in the door of verhead ressitance at $18.40 and if it can confidently break above that level a potential target of $26.50 is possible. With the growing perception that domestic travel is again open and international travel might be on the horizon with a 'vaccine passport' I expect FLT to improve.

FLT 26Feb21


Robert Norman

Phone: 0428 346 951

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