Looking at the "big picture" i.e. the weekly chart, FYI still...

Looking at the "big picture" i.e. the weekly chart, FYI still looking good. Still within the big white trading channel and expecting a likely bounce off here; as we draw closer to the potential JV, my opinion is that we will follow that path in blue (given all goes well), hitting ~85c within the next month (assuming the JV ann. is at the start of August). FYI is also sitting within the horizontal trading channel (dotted green), from which we had a failed breakout from in late May/early June due to having no significant news to sustain it. MACD and stochastics are shying away, showing a downtrend forming, reflecting the past few red weeks.


Looking short term, at the daily (note here I'm using the Heiken Ashi bars as they're better able to depict trends IMO), mid-late June FYI did break down from the white trading channel (gained support at 51c which was the 0.786 Fib Retracement - not shown) from a wider market sell-down, but seems we've returned back to it.
Indicators...MACD is turning and Stochastics (oversold) is also turning, suggesting a bounce from here. IMO this will be the last few days of lying at the bottom of this trading channel before we climb towards the upper limit of the trading channel in anticipation of JV news - all given that the market remains healthy. Anyone who didn't believe in JV would have left by now, so I'm not expecting too many de-risking sells.


Good conservative entry for anyone wanting to top up or a short-term trade here IMO, stocks seem to always go up in anticipation of scheduled news. I bought recently at 54c and again at 52c.

Hope that somewhat helps, cheers