Sunday, November 25, 2012

FLIR Systems (FLIR) kisses 18-month channel resistance on gentle volume

NOV25 1237PST. FLIR Systems, Inc. (FLIR), a producer of thermal imaging systems and a NASDAQ-100 index component, has cuddled up to resistance from an 18-month channel, shown in dashed yellow below. Bulls may be in for a one-night stand however; Friday's affair attracted only 177k shares of volume, against a daily average of around a million. Granted, it was an abridged encounter, with markets closing at 1300 Eastern for a tryptophan-tinged nap.

FLIR. April 2011 to present. Daily candles.