My view is that the stock is in a descending triangle, with a one year downtrend, and support at roughly $0.38. At the moment it looks like it should break to the upside, but my experience with these sort of patterns on smaller stocks is that this can take a while.
That's because you've got a lot of investors in an unrealized loss who have already made up their minds to get out - and are waiting for any share price strength to do so. Most likely they can do quite well if they decide to wait - but they are making a backwards looking decision, rather than a forward looking one.
FLC Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
