Sunday, February 26, 2012

Emergency Discovery - Frontier Communications (FTR)

Yes, it is an emergency broadcast at The Market Oracle. We have discover an alien invasion in the stock market- just kidding! We have discover a stock that is worth buying. It is none other than the title for this post which is Frontier Communications (FTR).
Based on the short term chart, FTR is currently in the fourth day after a strong upward move with high volume. Normally, if an uptrend is not strong, FTR would have tumble on the fourth day as most of the long players are rushing to cover their position. Even though, the long players have covered the position by selling on FTR, FTR continues at that level and instead go up slightly. It is a very important and major move for FTR.
 FTR has currently broken the downward trading range and it is definetely a positive signal. Although the downward trading range is not as visible and as apparent, I think it should be clearer in the coming days as FTR continues it upward move.
This is one very similar good example for FTR. Similar to FTR, MU manages to absorb all the long players who are covering their position on the fourth day, as a result, MU continues its upward climb to more than 30% to the current level.

Disclosure: I am currently 100% in cash and fully loaded. I am expecting to shoot all my bullets in either FTR or GTI. However, based on the analysis of the 2 very potential stocks, I think I am more likely to go all in for FTR as I can see clearer bullish trend for FTR as compared to GTI. GTI is a bit blur for me at the moment, as GTI can still go down a littler futher before it recover for at least a 10% gain.

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