Evening all, well, the buy signals are still intact, but we're approaching
an area which indicates the stock is "overbought".
timely.com
Nothing serious, I'd rather see it in overbought territory than oversold. And, the stock can stay overbought and advance in price for a long while. As an example take a look at the ASND chart:
timely.com
This buying that's gone on for the last few days seems like "informed buying" to use one of our industry's phrases. As someone pointed out in a prior post, "something's up and somebody knows"
There hasn't been any public comment from the company. There are no other stocks that I know of that are exactly like FNTN; oh, I know there's MKTW, MARG, and TSCN but these are plain vanilla financial/news sources.
Since the price has advanced 49% (per Bill) I suspect that there ought to be some backing and filling to consolidate the advance, in order to catch our collective breath for the assault on the formidable $1.00 level. If that price can be breached, a 49% gain will look penny ante by comparison.
Stocks move for fundamental and psychological reasons. The market psychology these last few days has been anything but ebullient, it's been rather depressing, but FNTN moved up 49%. Then there must be something very fundamentally positive going on.
Or....it could be that we've just lucky and somebody up there loves us.
Just my opinion, of course. Techno Wiz, what's "your take" as they are fond of saying on MSNBC.
Best, Joe |
