FLWS analysis by Cortes
1-800 Flowers.com is a small cap stock traded on NASDAQ. It has been in a short range channel from $4.50 to $5.70 from August 2013 up until today. This chart looks beautiful! As you can see on the chart below, the price action today broke out of the channel to the upside. Now we need to confirm this as a strong and confident breakout in order to buy the stock or option and have the odds on our side. First, lets look at the volume.Today’s volume is a nice big green candle which confirms that todays breakout was strong, indicating a bullish sign with much more to the upside. Second, the MACD indicator has crossed and is moving upward, another bullish sign. To view my chart analysis and to read the rest of my analysis on this stock, Click Here .
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