Flowtech - Go with the flo

Buy Flowtech Fluidpower ( FLO .L)

Flowtech Fluidpower plc is a United Kingdom-based distributor of technical fluid power products. The Company operates through two divisions: Flowtechnology, which is geographically split into Flowtechnology UK (FTUK) and Flowtechnology Benelux (FTB), and Power Motion Control (PMC). FTUK and FTB focus on supplying distributors and resellers of industrial maintenance, repair and operation ( MRO ) products, primarily serving urgent orders rather than bulk offerings. The PMC division is engaged in the design and assembly of engineering components and hydraulic systems, which are managed by component supply along with a service and repair function.

Market Cap: £64.98Million

Flowtech is trading in a neat range between 98.5p to 165.5p on the daily chart . The company pays a dividend, which is quite rare of a small cap business. The recent ex-dividend date has been shrugged off with no real impact on the share price. There is an unfilled gap at 120.5p, which is our first target, beyond that we believe the share price could climb towards 149.5p, then 165.5p.

Stop: 95p
Target 1: 120p
Target 2: 149p
Target 3: 165p

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Looks like it has stalled just in front of the 120p, which was to close the open gap. Stalling in the short term, still think it has potential to bounce towards the top of the range.
Seems to be stalling at the resistance around 120, do yuo have an update about this one?
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