Frontkn the Flying saucer stock (part 4)

As I am writing this post @ 11.50 am, Frontkn just moved 26.5 to 27c...from the chart Frontkn  has been forming a double base bottom ...a bullish chart pattern ...see chart above ....and according to this double base theory the stock will be a genuine move up when the resistance/top of this double base at 28.5c is broken with volume...as momentum traders chase the stock ....so short-term traders can buy at 29c ...target 33c (I hope so) ... the caveat is that there must be the big volume to follow the stock and market breath is good...IF NOT ..the chart pattern will fail ...cut loss below 25c support ...Trade at own risk!

Disclaimer: I own some Frontkn shares, bot at 27.5c last week.

Frontkn the Flying saucer stock (part 3)

This is Frontkn chart at 1/6 after a scary last week for investors. It did look like it would keep on dropping so much so that many weak investors gave up and sold out.

But today (after reporting increasing income last Q), the stock rebounded and closed above the highest point of last Friday ...(see chart above) ...does it look like a FALSE - BREAK DOWN / FAKEY SETUP ??!

As per an article in www.learntotradethemarket.com - a Fakey setup is described as - "Often times the stock will appear to be headed one direction and then reverse, sucking all the amateurs in as the professionals push price back in the opposite direction. The fakey setup can set off some pretty big moves in the stock". 

AN EXAMPLE OF FAKEY SETUP CHART

Frontkn the Flying Saucer stock (part 2)

1. Earlier on March 4, 2015 I mentioned that Frontkn was forming a base or saucer chart pattern and jokingly nicknamed it as a "Flying saucer " stock. You can see the article over here. 

2. A base pattern is a very powerful bullish chart pattern, and if one were to wait for the pattern to develop, the person will be rewarded.

3. Today 18/5 Frontkn broke out of the 2nd base pattern ...

4. I agree Target is around 35 cents in the coming days if market remain OK - 30c + 5c - diff btw lowest price of the 2nd Base 25c and high price on the right hand side of base/cup/saucer 30c. 

Frontkn the Flying Saucer stock (part 1)

UFO spotted in stock market ...UFO - Undervalued Flying Object ...hah hah ...Frontkn ..lazy Wednesday morning for me ..excuse the writing style ...ala CPTEH... Frontkn ....displaying a base or saucer pattern ...

CHART UPDATED APRIL 2015

ONE of the most reliable chart pattern ... now forming the handle ??...and consolidating between 17c to 19c ...if market is good, the flying saucer should blast off some time in future !