Family Dollar Stores (FDO) : Challenging Ichimoku Kumo Resistance

Family Dollar Stores has a little gap up yesterday and may be poised to break out of the kumo resistance on the Ichimoku Daily Chart.

Support is at 28.71 with Resistance at 29.7

The chart formation also seems to suggest a cup-and-handle forming.

Looking at the flat leading kumo, it is sugesting that price movement may be fairly range bound between $29 and $30 in the short term.

This is further supported by the Weekly Chart which shows that the price is trading inside the kumo now with a resistance at around $30.

2009Oct-Family Dollar Stores-800x6002009Oct-Family Dollar Stores-800x600_weekly

By iam802

Trend trading with Ichimoku