AntMwah
Long

Falling wedge, signs of exhausted selling.

LSE:FDEV   FRONTIER DEVELOPMENTS PLC ORD 0.5P
Price has held £7.30 area for around 6 weeks during the very intense selling from world equities. This area represented a gap to be filled dating back to 2017.

There is a further gap lower for those hoping for an even better entry. It's possible the price could hit this area but increasingly unlikely given duration of support at £7.30 (obviously further pressure on equities incl. BREXIT could change this).

During the fall the price has also formed a descending wedge which is the main bull case. The positive close into the year end at £8.00 put pressure on the top of the wedge . Most technical indicators are exhausted to the sell side.

Upside targets are attractive. A break above £10 would be a significant step representing a break of the downward trend and also a rejection of the H&S formation consistent with many stock prices at the moment.

Targets £10, £14.40, £18.70
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