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FTK been in our watch list for a while. It has great insider buying. Twiggs money flow just started to break through Positive side. We think it has good upside potential if it can break above $6.53
* Trade Criteria *
Date First Found- April 12, 2018
Pattern/Why- Smart money momentum long setup
Entry Criteria- $6.53
Exit Criteria- Momentum
Stop Loss ...
Tight SL in case the LH is not established yet..
FTK Looks like a perfect rounding bottom, would have liked to have seen a little more volume accumulation coming near to the end of the pattern but nether the less it is a long period of consolidation looking to buy above yesterdays high targeting $8-10 initially
First target to the box upon breaking the 200SMA.
Industry: Oil & Gas Equipment & Services
EPS due date: Feb 8
Horizontal S&R: yes, breaking above several lines of resistence
Channel S&R: yes, broke out of channel on EPS
MA S&R: yes, will use 200ma as support
>200ma: yes, just broke above
Volume confirmation: yes, on EPS day
Candle Confirmation: no
Stoch Divergence: no, but stoch look embeded
Reg Trendline >85: ...
Instrument has completed a larger 2 (circle) down
to $4.89 area. It has subsequently started a move up
that should eventually take it to the 57-60 area and perhaps
higher. A break above 16.88 will confirm.
FTK broke the horizontal resistance on Friday and have been in an uptrend since almost the start of this year. Even with very recent pull back in the oil services (energy) sector this name has been showing good relative strength. MACD curled up and is rising, RSI is rising and not close to overbought. Above all the moving averages is also a big plus if you are a ...
Showing some strength, buy on a pullback to demand zone.
Stop Loss: $8.98
Target 1: 11.00