Evening Bill & Don, interesting TA slant you have there Bill. Sort of coincides with what I'm seeing as well. Based upon your analysis there's a possibility that our good ship FNTN may be getting ready to sail ala WINR. Now I know WINR and FNTN are sectors apart in what they do for a living, but when we're talking TA, fundamentals take a back seat.
Print both charts and compare the similarities.
bigcharts.com
bigcharts.com
Both stocks had a surge in volume back in April & May when the Internets got hot.
Both stock's prices and volumes surged again in the summer: FNTN in July, WINR in September.
Both stock's prices backed and filled to their starting points on reduced volumes into the October lows.
Both stock rallied, made new, short term recovery highs over their prior near term peaks on low volumes.
Both stocks tested their lows without breaking the lower low.
Both stocks made a new higher high, but this time with an accompanying increase in volume.
Both stocks traded sideways, consolidating their gains: FNTN from approx. 0.40 to $1.00 (100% + move); WINR from approx 0.43 to $1.08 (100% + move).
Both stocks were held back by overhead resistance, but both stocks kept putting in higher lows.
Check the On Balance Volume for both stocks while you're in the chart page.
WINR popped last week on no published news from the company. But their website took on added significance by going off Beta mode.
FNTN's website is improving weekly and no published news, of course, other that the upcoming shareholders' meeting announcement and the potential to get some financials published.
If I were a betting man, I would keep my eye on FNTN.
If we break through 0.91 we will have cleared out some sellers.
If we break through 0.95 we will have cleared out some more.
If we close over $1.00 it ought to get interesting.
Of course, the more volume the better, somewhere north of 100,000 plus shares and increasing daily..
FNTN is getting as they say via the old Laugh-In line, "Veerrryyyy Interesting".
Best, Joe |
