I am holding 6 month calls on this stock. Tracking it's progress... It looks like there was a nice entry spot at 3.42 and 4.00... Still some room for profit if you want to trade this as it will likely rize to at least retest 5.
FRO is making another run to test 5.17 in this ascending triangle formation. There is some bullish convergence on RSI and MFI with higher lows, but lower highs have created symmetrical triangles. There is still room for price to grow before it hits resistance which could allow RSI and MFI to break the top trend lines and make a higher high, giving momemtum...
FRO looks like it wants to form a multi-year Head and Shoulders pattern that could break out above 5 year downward trendline to $16 in 2015.
The 30 week moving average is trending upward.
It had nice volume on breakout above the downtrend line that had formed in the past year.
Wave 3 of this breakout (see orange line) should top at about $4.50 in the next week or...
