Where Flex Stock is Going Since FLEX stock bottomed in 2009, the trading action has set up a large and long ascending channel. An ascending channel is a bullish pattern that consists of two positive sloping parallel lines that contain the price. FLEX stock will oscillate from support and resistance, and this trend will continue for as long as time permits. The standout with regards to this pattern is that the longer I hold onto Flextronics stock, the levels of support and resistance continue to move higher as well. Buy and hold investors love these type of patterns.
The panel on the bottom of the chart labeled “MACD” supports the bullish premise. Moving average convergence divergence (MACD) is a simple and effective trend-following momentum indicator. Signal line crossings are used to distinguish between bullish and bearish signals. A bullish cross just generated on the monthly chart above means that bullish momentum has overtaken the bearish momentum, and the bulls are now in full control of FLEX stock.