Frontdoor is knocking on a clear level. $FTDR – June 1, 2023

by DAN
This is Scott with your Chart of the Day. I want to take a quick look at Frontdoor ( NASDAQ: FTDR ).

Now, Frontdoor ( NASDAQ: FTDR ), as you can see, has had a little trouble with this $32.00 zone. You can see how we have this sideways base of consolidation, and a bit of a cup with a high handle. It tried to get above here in March, it couldn’t do it. It consolidated and now we are just knocking on that level of resistance.

And so, I think $32.00 here on FTDR ( NASDAQ: FTDR ) is a pretty clear level of resistance that it should break through. So that is a level that I am going to set an alert on my software here and look for a break out of this current consolidation zone.

I like the fact that even though the stock did break down here in March, it found support around some clear moving averages. It consolidated, consolidated, and then it looks like it had an earnings move. It gapped up, held that gap, and since has just been going sideways.

And so I want to see a strong move through $32.00 here on FTDR ( NASDAQ: FTDR ), and hopefully, it can break down this door or this level of resistance.

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