We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of Fuel Systems Solutions, Inc. (FSYS).
I hope you are having a GREAT week !
Let's take a look at FSYS this week.
FSYS made a double bottom base and a huge move higher out of the base, which means sharply higher prices could be on the way for FSYS.
I've mentioned this in a number of past write ups, but MarketClub is often right there putting in Trade Triangle signals at the right time on classic chart patterns, and this looks to be another great example of that.
The weekly and monthly Trade Triangles both went on an up Triangle on the same day FSYS was making the breakout of the base.
So the MarketClub weekly and monthly Trade Triangles both turned bullish right at a classic buy point, which is pretty amazing and a great call.
The move off the low has happened on strong momentum and volume which puts the odds with much higher prices from here.
Of course as always, no matter how bullish a stock looks, there are no guarantees, so always use caution and sound money management, even when it looks like a great opportunity is at hand.
FSYS is definitely a great opportunity and a great Chart to Watch, as the explosion off the low, suggests the fireworks may just be beginning for FSYS.