Since hitting 2.8c low, FMS has tried very hard to move up (done 4 waves),but unable to beat 10c and is on the way down. Why? Because low grade IO, too may shares on issue, MXR is too heavy on FMS's back. These problems keep Chinese/other big guys at bay. FMS has not consolidated yet. To me, FMS is too expensive. FMS needs a consolidation. However, consolidation will knock sp down. No consolidation is no Chinese friend, and can become JRV!
Fib for FMS
High: 9.4c Low: 2.8c
Retracement
23.6% = 7.8c (done)
38.2% = 6.8 (done)
50.0% = 6.1 (done)
61.8% = 5.3 ?
78.6% = 4.2 ??
100.0% = 2.8
fib ratio
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