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- 1 FLS stock is showing bullishness and continues to extend gains.
- 2 Buyers are showing interest and persist in accumulating the stock.
FlowServe stock (NYSE: FLS) price shows a rising parallel and rose steadily over the past few sessions. Despite the sellers’ efforts to break the momentum, bulls took support near the 200-day EMA. They continued to extend the gains, forming higher high sequences, surging inside the narrow rising channel.
FLS share price is now targeting the trajectory swing of $50 in the upcoming sessions. However, FLS stock was taking support on the 50-day EMA and made a hammer candlestick in the last session. Moreover, the price is near the channel’s lower trendline, where a bounce toward $50 can be anticipated soon. As per the technicals, the FLS share price is heading toward the bull trajectory and gradually rescuing the gains, showing signs of bullishness. Furthermore, from the start of 2023, FLS share persisted in extending the gains and reviving the momentum, resulting in a surge inside the rising parallel channel over the past few sessions.
At press time, the FLS share price is trading at $39.16 with an intraday gain of 0.33%, showing bullishness on the charts. Moreover, the trading volume increased by 0.78% to 2.676 Million, the market cap is $5.138 Billion. Moreover, analysts maintained a neutral rating with a yearly target price of $43.60, suggesting a significant upside for the following sessions.
Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through Flowserve Pumps Division and Flow Control Division segments. The Flowserve Pumps Division provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts, and related services. The Flow Control Division involves engineered and industrial valves, control valves, actuators and controls, and related services.
FLS Stock Shows Rising Parallel Channel on the Daily Chart
On the daily chart, FLS share price is trading inside the rising parallel channel and is close to the 20-day EMA, which bulls are trying to surpass and are willing to strike the $50 level. Furthermore, the chart structure shows bullishness, suggesting a significant upside for the upcoming sessions.
The RSI curve stayed near neutrality and showed a bullish divergence, suggesting a positive outlook for the upcoming sessions.
The MACD indicator showed a bearish crossover, but the trend is intact, and buyers continue to accumulate the stock to reach the $50 mark.
Summary
FLS stock price is trading in the bull trajectory and suggests follow-up buying that will reach $50 soon. Moreover, the bulls continued adding long positions and accumulating the stock. Furthermore, the FLS share price surged inside the rising parallel channel, showing the bull dominance.
Technical Levels
Support Levels: $35 and $30
Resistance Levels: $45 and $50
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
