Futuris Company (FTRS)

[k_trader]

Today's candle is a Black Shooting Star which is a bearish signal, meaning we could once again pull back to support lines. The Full STO and Trix lines have crossed and are up ticking which is considered a bullish signal. Additionally RSI and Williams charts still show over sold. Also there is really no accumulation going on right now, Accum / Dist chart indicates we are just seeing day traders flip the stock right now.

So using these indicators I would say there is a good chance we will close flat or green tomorrow, however my gut tells me we will see red, lets hope I am wrong.

For the last 2 weeks volume has been low and MM's have basically been in control so it is difficult to come to any hard conclusions. Once active traders move back in and accumulation picks back up we can more accurately read technical indicators to determine where we are heading.

GLTY