FTI has a *Market Roadmap-style setup.
Remember, a Market Roadmap bounce is an up-trending stock that takes a pause and retraces back to the orange line on the chart that I have named the Roadmap Line (RML).
Once a stock finds support at the RML, then resumes the trend, a high-probability setup is formed when we cross above the 61.8% retrace level and through upside resistance.
If the price does not find support at the RML, the setup is invalidated — no trade.
For this current FTI setup, the super aggressive entry (aggressive because it might fail) would be on a sustained move through $19.25.
A normal, much more conservative entry would be on a sustained move through $21.50.
Consider stopping out or voiding the setup on a move below $17.50 area.
A conservative target is $22.75.
A normal target of $24 with around a 70% likelihood to be hit after price moves through the conservative $21.50 entry.
The aggressive target is $25.75, and a probability around 40% to get hit without a substantial retrace after we clear that $21.50 area.
The Chart
You can go check out my chart marked up with notes (entries, targets, etc) right here: https://www.tradingview.com/x/n2G7PDLj/
Good Luck!
— Jeffry Turnmire
