Before I get into it, take this thread with a grain of salt as this is purely looking at the technical analysis of FHE. Technical analysis can only support fundamental analysis and won't mean anything if FHE continues to be unsuccessful with their debt financing.
Looking at the chart below, we can see the early stages of what could be a double bottom break out pattern. The likelihood of this pattern playing out would increase by FHE announcing any favourable news in regards to their debt financing. Recently, FHE underwent a capital raise at $0.25 which means we can expect a strong resistance beyond that price. Realistically, first resistance line that FHE would meet is $0.21 - $0.22 before retracing back down to $0.17. In my opinion I don't believe FHE will be able to break passed $0.21, given the large amount of distrust in the stock at the moment. With the news that Mark McGowan has stepped down and the failure of the last 'secured' debt financing, people will be hesitant to put their money back in until we see a progression beyond an announcement declaring another 'secured' debt financing. The only way I see this stock going beyond $0.25 is once the debt financing has been secured and the project has physically started.
Currently, we have a strong support line at $0.1, giving people a good chance of making some high percentage gains in the short term.
FHE Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
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