Flowserve (FLS) came across the bullish triangle alert page from the
P&F pattern scans. On the P&F chart, notice how the stock broke above the bearish resistance line with a surge above 98. As far as Point & Figure is concerned, this chart remains bullish as long as the blue bullish support line holds.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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