Looks like it is bouncing off the 8.79 - 8.80 support level. Could be a good week next week if it holds into the close. I was expecting more profit taking going into the 3 day weekend.
"If charts are so pointless, how come I could tell you that $9 was the buying opportunity eh?"
You're either not reading my post carefully or dissembling. I'll assume the former. For decades now I've seen players getting their clocks cleaned by false confidence generated from their reading of charts. Nevertheless, I don't totally decry technicals, especially price movement and volume for very short-term trades. But so much of the rest, when empirically tested, fail to prove their case.
In any case, while you waited for 9 bucks to buy, I bought at prices between 7.37 and 8.11, based not on charts but on what was a compelling fundamental case at the price. And the case is as strong at the current price because of the global and Canadian energy context in which Frankiln finds itself. Not a difficult call nor one that requires chicken innards, tea leaves, or flags, pennants, candlesticks, etc. Off my soapbox now and no more from me about charts.
Re tomorrow, I'm inclined to see what I predicted yesterday for today because of the momentum and the apparent spreading knowledge about the company: a gap on the open and a higher close. . . unless traders whack it the last half hour to clear their books for the weekend.
Most of the time technical "signals" are so ambiguous that they tell you virtually nothing that's of use beyond very short-term trading. (Which is okay when you're doing very short-term trading.) And that's the way it is in Franklin's case. Technicals say (at this moment) that there's some resistance at 9.50. A punch through that will assure a small pop at the least. But fundamentals reign with CFK, which is the tail that'll be wagged by the Canadian oil-drilling dog. And that dog is in the process of growing to dinosaur proportions. I'd love to see Franklin receive some magazine or popular newsletter mention to help elevate it from obscurity. But even absent that, it'll wag happily come earning announcement times. So watch the calendar, not the clock.
I have the feeling that the ride to 10 is going to be harder then the ride from 10 to 15. The technicals are nice. We are pushing up against overhead and just need some volume. It wont be long before an institution decides to take 100k and get us above.
I see support in the 3.77 - 3.78 area. I use candlesticks to find support levels. There is a support level in the 2.50 area as well but there ia a consolidation level above it. From the base you have it at there is also fibonacci support at near 3.74. There are many ways to determine support. Stick with what works for you.
Well, VPHM has been very good to me, having bought at 5. I think it's only fair to say I don't think this stock has much more potential for growth.
AOB is different. That stock is really cheap, it's trading below 20, P/E wise, and around 10, with growth well over 20%.
But neither stock can hold a candle to CFK, and its potential. Both stocks have had the kind of move I would like CFK to have. But in both cases, there has been a catalyst to propel the stocks higher. Next quarters earnings report might do it, let's hope it does.