September 11 Chart of the Day - Floor & Decor
Each September 11th I reflect on the lives that were lost that day back in 2001 and all the brave men and women who at anytime worked so hard and sacrificed to protect our great country. And because of them we sleep freely and soundly at night so thank you to all who serve and protect us.
Floor & Decor Holdings, Inc. (FND) is a multi-channel American specialty retailer of hard surface flooring and related accessories that was founded in 2000 and headquartered in Smyrna, Georgia.
Floor and Decor stock is reportedly held by Berkshire Hathaway, Warren Buffet's holding company so we wanted to review their chart from a price action technical analysis perspective.
Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews.
We have featured over 275 Charts of the Day since May 2023 and teach Price Action Trading for FREE to traders who join our Highly Rated Trade Room.
Monthly Chart
On the monthly chart we can see that after setting its $145.89 all time high (ATH) back in 2022 price fell dramatically over the next year all the way down to the $60 area about two years ago.
Since then price ascended rapidly back up over $130 before falling back down below $100
Weekly Chart
On the weekly chart we can see with much more clarity the fall from ATHs, and the bounce back up. The bulls seemingly have been attempting to make a series of higher highs and higher lows.
Trading around $106.30 earlier today price may be attempting to establish its next higher high but if it does price will need to break out of this wedege that's formed.
Only time will tell for sure what price will do next...
We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.
Armed with precision oriented charts like these both traders and investors can formulate their respective plans.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones,
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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