Take a look at the 1-year chart of Frontier (NASDAQ: FTR) below with my added notations:
FTR went through a major decline from February into July. However, over the past 3 months the stock has created a key price level to watch at $5.50 (red). As you can see, FTR has tested that level multiple times since mid-August. A break above that $5.50 level should mean higher prices for the stock.
The Tale of the Tape: FTR has a key level of resistance at $5.50. A long trade could be entered on a break through that level. However, if you are bearish on the stock, a short trade could be made on any rallies up to $5.50.
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