Since April, NYSE: FRO has been building a steady uptrend, forming a sequence of higher highs and higher lows. Each corrective wave has consistently found support along the rising trendline (GREEN), which has now been successfully tested three times.
In July, price broke above the 50-day SMA (BLUE) and has since turned it into a strong dynamic support — a sign of clear trend recognition by the market.
Most recently, on October 14, FRO printed a candle that tapped into multiple layers of confluence:
* Retest of the ascending trendline
* Touch of the rising 50-day SMA
* Stop-hunt wick sweeping below recent lows
* Reclaim of the horizontal support (RED dotted line)
This combination suggests a strong defense from buyers at this zone. While short-term volatility may persist, the overall structure remains constructive — as long as price holds above the trendline and SMA 50, the bullish momentum stays intact.
In July, price broke above the 50-day SMA (BLUE) and has since turned it into a strong dynamic support — a sign of clear trend recognition by the market.
Most recently, on October 14, FRO printed a candle that tapped into multiple layers of confluence:
* Retest of the ascending trendline
* Touch of the rising 50-day SMA
* Stop-hunt wick sweeping below recent lows
* Reclaim of the horizontal support (RED dotted line)
This combination suggests a strong defense from buyers at this zone. While short-term volatility may persist, the overall structure remains constructive — as long as price holds above the trendline and SMA 50, the bullish momentum stays intact.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.