Technical outlook – In just than 4-months, prices have plummeted from $40.00 a share to close to a $15.88 low and is now pushing the Relative Strength Index (RSI) 3-week lookback into extreme oversold territory.
Although the leading indicators Moving Average Convergence Divergence (MACD) is deep, in bearish territory, the call for this share is soon expected to see a reversal from the near eight-year lows of $15.00.
However, further assessment towards this level is required, before giving that call.
The time now is to re-evaluate.
Company Overview – Flight Centre Travel Group Limited (FLT, formerly Flight Centre Limited) is engaged in the travel agency business.
The Company provides complete travel service for leisure and business travellers in Australia, New Zealand, the United States, Canada, Mexico, the United Kingdom, Africa, the Middle East, Asia, and Europe.
FLT consists of more than 30 brands with four categories of brands which are Leisure, Corporate, Wholesale and other. Former Names: Flight Centre Limited, 5/11/2013.