Technical indicators signal a Rectangle forming. Verify the setup on the chart.
Sideways movement between parallel supports.
Bearish continuation pattern.
Consolidation. Can break either way.
Bearish continuation if preceding move was down.
Traders are watching Fortive (FTV) as price action tightens. With a last close of $56.08, volatility remains active (0.32%). Price action has carved out a classic Bearish Flag. This setup is supported by average volume turnover. A potential breakout level is identified at $53.48, targeting $43.5 with support near $56.6 (R:R 3.19).
What is your outlook on FTV?