FGNX Opinion - Fresh look at FGNX based on a new chart setup. I am holding and posted prior that I was looking for $8 as a possible exit. Still true based on this setup. Had to zoom out to the day chart but I am thinking with the aggressive drop in price, the ENV bands will shift down and it will range betweeen $3 and $8 with $7 being the favored ongoing level. With the day chart being a bit 'Off' in terms of price action it would appear as if the price has not touched the ENV 120/80 bottom band which would be the pivot level. But I believe, by changing to lower time frames it has indeed reached a bottom pivot point. IF the pivot is sharp and the rate of change is aggressive (conviction) I would forsee this stock retracing to $8 within 2-3 days. If it cups OR someone decides they nead a double bottom for permission to buy up (capitulation) that means a week or more of dead money i.e. wasted time scalp, day, and swing traders. - Opinion
