Those keeping an eye on the recent movements can see that the large sellers are being replaced by large buyers... if not for the US market (and global) correction last week, FLC would be trading several cents higher.
The sell down last week was low volume and more likely than not, due to retail holders spooked by the correction.
The next few weeks are likely to be relatively quiet from a China standpoint, albeit we know there is a good chance some contracts will be announced in March (after week long Chinese new year celebrations).
Personally I am also expecting some news out of Africa around the same time, Henry's visit will be for a good reason and no doubt he will be there to negotiate/close out the US$100m Africa BOT project.
So whilst some may be tempted to sell in a period of calm (from a news standpoint), there are some investors out there patiently mopping up some solid parcels.
FLC chart is starting to take shape and looking like those who wanted out of the register post merger have mostly done so.
FLC Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
