Con permiso del moderador, pego este análisis técnico como complemento al realizado por Ramón. La única pega es que está en inglés… En cualquier caso, espero que os sea de utilidad.

Saludos.

FTEK (Friday closing price 8.17)

FTEK generated a successful retest of the major weekly close support level between 7.25 and 7.48 when it closed in the green on Thursday above the previous week's close at 7.61.

FTEK has been trading in a sideways fashion since September of last year between $7 and $14. Nonetheless, tt must be mentioned that the company was awarded multiple air pollution control orders totaling $2.2 million dollars just last week, including 2 orders in China. These contracts, as well as the action seen this past week, might be a signal the stock is heading higher from here.

On a weekly closing basis, there is minor resistance at the $10 level from a psychological basis as well as from the 50-week MA. Nonetheless, previous weekly close resistance is not found until decent resistance is reached up at 11.57 and then again at 12.47. Strong resistance is found at 13.71 from the highest weekly close since Sep08 as well as from the 100-week MA. On a daily closing basis, minor resistance is found at 8.81 and then just a bit stronger at 9.62 from a previous daily high close as well as from the 50-day MA. Stronger resistance is found up between 10.47 and 10.69 from a couple of previous daily closes there as well as from the 200-day MA. Strong resistance is found at 12.50 from a double top. On a weekly closing basis, support is strong between 7.25 and 7.61. On a daily closing basis, support is very strong at 7.61.

FTEK had been on a very strong and decisive downtrend since October when the stock had a successful retest of the previous high at 14.15 with a rally up to 12.65. Nonetheless, having reached the major support level in the mid 7's as well as getting the positive fundamental news last week is likely to support dips and generate new rallies. future.

The stock had a key reversal week this past week having gone below the previous week's low and closing above the previous week's high. Such a reversal, based on news, is a strong indication that further upside is to be expected. In addition, such a reversal also shows that the 7.50-7.60 area is now considered major support.

Purchases of FTEK between 7.82 and Thursday's closing price at 8.17 and using a stop loss at 7.41 and having an objective of a minimum rally up to 11.50 offers a risk/reward ratio of at least 4-1.

My rating on the trade is a 3.75 (on a scale of 1-5 with 5 being the highest probability).