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FX Energy Inc. Message Board

  • swerd96 swerd96 May 6, 2005 4:27 PM Flag

    We may have turned the corner today

    As I mentioned before, the chart is begin to show signs of strength.

    The signs of strength are:

    1. The trend line from 8.00 (in Nov 04') to 9.75 (in Apr 05), then 10.00 (last week) held;

    2. FXEN did a double bottom at 9.75 and 10.00;

    3. The 200 dma recently held at 10.50;

    4. We are in an upward slanting wedge;

    5. Today we had higher highs than yesterday on no news;

    6. Could be the beginning of the Lugi spud rally, or the expectation of positive Sroda flow test results;

    7. Regardless, the low volume is not helping the shorts. It takes them more days to cover.

    8. Finally, these positive chart formations will attract additional buyers on Monday.

    I think the worst is behind us, the chart is beginning to reflect that, and us longs have a lot to look forward to.

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2.94+0.08(+2.80%)Oct 23 4:00 PMEDT

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