FITX Daily Chart ~ Huge Reversal from Outside the
Post# of 2559
Posted On: 03/09/2014 11:50:23 PM
FITX Daily Chart ~ Huge Reversal from Outside the Lower Bollie
Just as I often mention taking some off when stock runs outside the upper bollie, the same occurs when a stock moves outside the lower bollies. One way or another, the stock will return within the bands. In the case of FITX, last Tuesday saw the stock drop to a low of .04 while the lower bollie was trending at .006. The previous support level of .065 was shattered that day in a massive bear raid shaking out the weak. Those that had cash ready to snag a few cheaps in the .04s-.06s did very well as FITX rebounded to .10 on Friday. FITX could turn into one of the premier MJ stocks over time. I wished I had more to buy during the panic selloff but I was concentrating on a few other stocks such as HHSE, ORFG, PROW, MPIX, MFST, and AGDY. As to the technicals of FITX, the FullSto and MACDs reset nicely and have leveled out and beginning the crosses to the upside. The stock needs to stay above the MA20 and middle bollie in order to keep this leg up intact. A close at a new high, .115, on strong volume would be huge for the stock. Fundamentally, the stock might be considered overvalued with a market cap of over $100 million, but the pot sector is extremely hot at the moment, and FITX has taken a lead of most of the other garbage out there pretending to be heavily involved in the industry. GLTA
Just as I often mention taking some off when stock runs outside the upper bollie, the same occurs when a stock moves outside the lower bollies. One way or another, the stock will return within the bands. In the case of FITX, last Tuesday saw the stock drop to a low of .04 while the lower bollie was trending at .006. The previous support level of .065 was shattered that day in a massive bear raid shaking out the weak. Those that had cash ready to snag a few cheaps in the .04s-.06s did very well as FITX rebounded to .10 on Friday. FITX could turn into one of the premier MJ stocks over time. I wished I had more to buy during the panic selloff but I was concentrating on a few other stocks such as HHSE, ORFG, PROW, MPIX, MFST, and AGDY. As to the technicals of FITX, the FullSto and MACDs reset nicely and have leveled out and beginning the crosses to the upside. The stock needs to stay above the MA20 and middle bollie in order to keep this leg up intact. A close at a new high, .115, on strong volume would be huge for the stock. Fundamentally, the stock might be considered overvalued with a market cap of over $100 million, but the pot sector is extremely hot at the moment, and FITX has taken a lead of most of the other garbage out there pretending to be heavily involved in the industry. GLTA
| 03/04/14 | Bought | 100,000 of FITX @ $0.0 53 | -5307.99 |
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