Old levels of resistance around price congestion have a habit of becoming new levels of support after breakout in an uptrend. Previous resistance was observed at approximately 85 cents. Yesterday's close and this morning's action confirms breakout above that level and indicates further upside in the near term. The share price tested that previous level of resistance at approximately 85 cents this morning and found strong support. In my opinion, the most likely scenario from here is a short (perhaps 1-5 days) consolidation in the mid to high 80's before the s.p moves higher again. I know this is all very basic stuff, but still worth pointing out.
FDM Price at posting:
87.5¢ Sentiment: None Disclosure: Held
