Ok FYI disciples.... it has come to my attention that there is no charting thread for our little under appreciated gem that is FYI, so thought id get things started, and what perfect timing when it all looks lined up to go pop.
FYI is performing outstandingly well given the current market conditions, and to think there has been no price sensitive news flow in nearly 10 trading sessions...I think something may be brewing. High volume day yesterday above Av.... with large tier 1 block trades taking place off screen (There could be hundreds of reasons that the seller had wanted/needed to sell, but I can think of only 1 reason that the purchaser in these transactions wanted to buy....and that's got to be because they are bullish on the stock), after taking a small beat down this morning with the rest of the market we had strong recovery to finish on a high on a Friday afternoon when usually money is being taken off the table for the weekend.
Chaikin money flow is showing accumulation for the last 10 days, MACD looks poised to make a bullish crossover, stochastic is turning bullish from oversold territory and 61.8% FIB held firm , the last 3 trading sessions saw the 50% fib hold firm, a close today for the second day in a row above the 38.2% and the ascending triangle squeezing us back up to test 46.5 and eventually a breakout above 51.5.
Weekly chart looks to have just broken out of a 6 week consolidation after the move from 20-50c which looks to be W3 and W4.
I'm expecting W5 to take us a similar distance up from its starting point at 40c so 70c target for this leg up, although a revised DFS in the billions or JV announcement I expect it could go much higher.
DYOR as I am clearly biased due to my love of the stock.
GLTAH
