all this talk about another possible major acquisition is possibly weighing on the stock also. technically it has been another failed rally and i notice its been testing support again in recent days.
i don't think there is any rush to buy on a TA basis. When you look at fundamentals, it appears to be a screaming buy, but obviously the market doesnt agree, nor has it agreed for the last 12 months. Its in a sideways to down pattern and needs to break out of this before any buy signals will develop.
A close below the 4.65 area would not be good in my view. conversely, a close above the 4.78 area would be a good sign. 3 consecutive closes above 4.78 and it will be a very good indicator. Its getting squeezed with the traingle formation and should break either way soon.
skippa
FGL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
