Short Term Trading Week Starting: 03 Jun, page-16

STTCOMP FTL TA SHORT

FTL - Firetail Resources Ltd
Market cap: $17.1M
Last price: 11.5c



FTL shot up 150% today with 2.64m in value of trades, pretty high for a penny stock. This was spurred on by an announcement entitled "Summary: Acquisition of York Harbour Copper Project, Canada". The share price majorly gapped up on open and flew. However, from looking at the patterns in the downtrend I think that the share price will retrace from here. Possibly a lot more than 25%. The share price could come down to about 7.2c .
This chart also looks similar to NXM where the share price did this.