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Flowers Foods Inc. (FLO) – stock is trading around $22.08 dollars as of December, 23, 2019 and offering a possible buying price between $22.05 – $23.15. Let’s look at the stocks technical actions using a weekly chart.
2. The stock witnessed a rock sloid sell off back in August, as volume swelled. It also lost the key 50 day moving average (DMA) support line.
3. The stock tried to come back in the following week, but it turned out to be a sucker rebound, as it was not able to reclaim the 50 DMA.
4. The stock started to live below the 50 DMA line.
5. As the selloff got accelerated, its even lost the 200 DMA line support.
6. The stock also witnessed the 200 & 50 DMAs bearish cross over.
7. However, the stock regained both the 50 & 200 DMAs in heavier volume last week.
8. The stock is offering possible buying price between $22.05 – $23.15, with a stop loss at $20.29.
This stock is already part of the Stocks Under 50 Dollars pick and performance will be tracked here .
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