Cardoggie, my apologies. I read your message and meant to get back to you when I had more time and I forgot. It wasn't personal. My mind is deteriorating in my old age I guess.
FTI would not have been a buy based on my criteria. Keep in mind, my time frame is 2-5 days. A "written in stone" rule of mine is to never, ever, never buy a stock following a 3-4 day price rise into a major moving average. Never, ever!
Some rules are guidelines, others written in stone. FTI, prior to today would have been an avoid.
Today's candle is actually indicating that FTI will pull back over the next day or two. Odds say it will test the 20 day moving average again.
The stock has been in a downtrend and I'm not sure holding a dowtrending stock is a good idea going into earnings. The company would have to blow away the expected numbers to alter the trend.
I could be wrong but the odds say any spike in price between now and then will be sold off once the numbers come out. Once that occurs, you will then have a good idea of where this stock is going.
As with all analysis, your time frame determines how to play it. My time frame is 2-5 day holds.
stockcharts.com[h,a]daclyiay[d20041104,20050204][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G
dabum |
