Saturday, August 25, 2012

"Come on baby light my FIRE"

The market this week traded a little tired. The good news is that when this occurs it helps one identify great opportunities that are set to go.  Case in point, FIRE has shown up in scans as a potential rocket ship.  Notice that after earnings and some selling pressure, support was found at the $42.50 area.  Now the stock has moved back and breaking out of a technical pattern know as a Broadening Wedge, Descending.  Notice that shape of this pattern looks like a megaphone. We will follow this stock over the next eight weeks and see if it has the right stuff.  The parameters are set with stops at $49.25 with a potential move to $67.00 makes this stock exciting to follow for most game changing stocks mature in the 50 dollar range before really moving higher over time.  So buckle in make sure all systems go  For more portfolio ideas to boost your returns, email me at jason@themoneychart.com. Sign up today for a free two week trial, that never requires a credit card.


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