The yellow lines are rising. Say what?Three months ago, FBR was...

The yellow lines are rising. Say what?

Three months ago, FBR was in the doldrums, languishing at a support level of 0.021.^[1]

In early June, the announcement of Hadrian X Achieves Commercial Lay Speed caused a first spike to 0.105. The selloff began in a matter of hours. It turned into a two-week downtrend, ending with a new support level of 0.031.^[2] The yellow lines are rising.

From this point, it began a reversal to the upside, and a second spike with the announcement of FBR Completes Walls of First Display Home Using Hadrian X. It reached a price of 0.105 - the same high as the 1st spike (pink line). This was followed by another selloff, down to a new support level of 0.055.^[3]. The yellow lines are rising.

A third spike occurred on August 10th - albeit with no announcement. But true to form, there was another selloff, which was realised the day after. The third time around though, the selloff acted differently. First, there wasn't a multi-day pattern of selling. In the last three days, the price has instead been nudging upward. This could be the beginning of an an ascending broadening wedge (blue lines), but needs confirmation.

To summarise the chart pattern for the last 90 days - it's a spike, followed by a downtrend, followed by a reversal, along with higher and newer support lines. Lather, rinse, and repeat:



The yellow lines are rising.