To issue stock at a huge discount will in most cases drive a SP down to or near the issued price; as is the case with FKP. It allows the shorts to do their thing over time which slowly triggers stop losses and fear to bring the SP to a 52 week low. The chart is telling me that the selling may have come to an end as Friday finished with a Bullish Harami Cross Pattern.Other indicators are confirming same. Confirmation that the trend is reversing will be a white stick, a gap up or a higher close on Monday. The short traders will be aware of the BHx as it points to the bottom. If the down trend reverses a trading range of .22( support) to .24(resistance) should prevail to allow the SP to gain upward momentum. ALL IMO. DYOR.
FKP Price at posting:
$1.54 Sentiment: Buy Disclosure: Not Held
