A six months review of the trading on FNTN.
Cliff D. in his Post 697 Message 5240558 Made some excellent
observations. As I read through it I found his concepts to be very interesting and correct in my opinion. If
you have not read it you might want to.
His post spurred me to run a six-month overview of just what has taken place with the price on FNTN. I
though some of you might want to see it so here it is.
Month Type Close High Low Volume
Jul = Average = 0.6254 = 0.6417 = 0.5992 = 220,008
Jul = High = 0.6700 = 0.6800 = 0.6300 = 410,300
Jul = Low = 0.5900 = 0.6100 = 0.5800 = 106,600
Jun = Average = 0.6164 = 0.6429 = 0.5907 = 187,200
Jun = High = 0.6700 = 0.7100 = 0.6400 = 395,200
Jun = Low = 0.5700 = 0.5800 = 0.5200 = 69,900
May = Average = 0.7306 = 0.7751 = 0.6818 = 279,930
May = High = 0.8500 = 0.8800 = 0.8000 = 581,600
May = Low = 0.5800 = 0.6400 = 0.5400 = 79,400
3 Mos. = Average = 0.6575 = 0.6865 = 0.6239 = 229,046
3 Mos. = High = 0.8500 = 0.8800 = 0.8000 = 581,600
3 Mos. = Low = 0.5700 = 0.5800 = 0.5200 = 69,900
Apr = Average = 0.4091 = 0.4371 = 0.3659 = 569,557
Apr = High = 0.8400 = 0.9500 = 0.8000 = 1,811,800
Apr = Low = 0.2350 = 0.2600 = 0.2200 = 78,900
Mar = Average = 0.2875 = 0.3033 = 0.2707 = 132,067
Mar = High = 0.3400 = 0.3800 = 0.3200 = 438,500
Mar = Low = 0.2400 = 0.2500 = 0.2400 = 21,000
Feb = Average = 0.3642 = 0.3875 = 0.3258 = 195,592
Feb = High = 0.4200 = 0.4700 = 0.3900 = 422,500
Feb = Low = 0.2900 = 0.3000 = 0.2700 = 14,700
3 Mos. = Average = 0.3536 = 0.3760 = 0.3208 = 299,072
3 Mos. = High = 0.8400 = 0.9500 = 0.8000 = 1,811,800
3 Mos. = Low = 0.2350 = 0.2500 = 0.2200 = 14,700
6 Mos. = Average = 0.5055 = 0.5313 = 0.4723 = 264,059
6 Mos. = High = 0.8500 = 0.9500 = 0.8000 = 1,811,800
6 Mos. = Low = 0.2350 = 0.2500 = 0.2200 = 14,700
The closing price (0.67) on Friday, July 17, 1998 as compared to the chart is as follows:
CLOSING AVERAGE PRICES
Down 0.0321 (5%) over the three month closing average for May-Jul 17, 1998
Up 0.2718 (77%) over the three month closing average for Feb-Apr 1998
Up 0.12 (24%) over the six month closing average for Feb-Jul 17, 1998
CLOSING HIGH PRICES
Up 0.0125 (2%) over the three month closing high price for May-Jul 17, 1998
Up 0.3058 (90%) over the three month closing high price for Feb-Apr 1998
Up 0.1645 (33%) over the six month closing high price for Feb-Jul 17, 1998
CLOSING LOW PRICES
Up 0.02 (3.5%) over the three month closing low price for May-Jul 17, 1998
Up 0.355 (251%) over the three month closing low price for Feb-Apr 1998
Up 0.355 (251%) over the six month closing low price for Feb-Jul 17, 1998
The rest of the information on the chart is there for you to digest if choose to. And Cliff get out of the
lurkers corner and keep posting. Your insights are needed for all to see.
WHERE IS THE PRICE STRENGTH ON FNTN IF ANY:
In order to address that lets look at the following chart:
chart2.bigcharts.com
The very bottom of the chart shows overall:
1 month +15.52%, 3 months +55.81%, 6 Months +131.03% and 1 Year +86.11%
Additionally the upper part of the chart tells us the following:
Mr. Bollinger notes the following characteristics of Bollinger Bands (Red Lines):
Sharp price changes tend to occur after the bands tighten, after volatility lessens. When prices move
outside the bands, a continuation of the current trend is implied.
My personal opinion on this part of the chart is that:
1. The bands have in fact tightened considerable since the middle of June.
2. That the price has tested the upper levels of the bands on three occasions prior to July 17, 1998
3. On Friday, July 17 the price in fact did pass above the upper band and held for the first time since
the first part of Feb and again at the latter part of Apr.
4. If the upward movement continues in the upcoming trading days with increased volume that the new
target or base price might be $0.80 (???) or higher.
The Volume Accumulation, developed by Mark Chaikens, is a modification on the traditional On
Balance Volume (OBV) indicator. Instead of assigning all the period's volume to either buyers or sellers,
the Volume Accumulator uses a proportional amount of based on the relationship between the closing price
and its intra-period mean price. In effect, the indicator is measuring shades of Grey that traditional volume
indicators like OBV miss.
However, if price close at the period's high or low all volume for that period will be assigned accordingly
regardless of the relationship to the intra-period mean price. Movement of the oscillator above the zero line
measures buying pressure while movement below the zero line measures selling pressure.
As to the VOLUME ACCUMLATION portion of the chart I conclude:
1. Since the first of July the stock trading volume has for the most part been on the side of accumulation.
2. The daily trading volume has be very low when compared to the overall float of the stock.
3. I believe this is in fact due to the continued resistance of FNTN core holders not willing to sell.
4. That the volume accumulation trend will continue if that resistance continues in the longer term.
In retrospect you may want to see or revisit the following posts:
#567, TechnoWiz, Jul 15 1998 8:25PM
Message 5208877
#666, Warthog, Jul 17 1998 8:27PM
Message 5235255
#693, Bill Fortune III, Jul 18 1998 2:52PM
Message 5239172
Again, my thanks to Cliff and wishing us all a good trading week,
Bill Fortune III |
