FRC Short next 1.5-2.5 days followed by Long Rebound
Standard disclaimers:
DISCLAIMER: This is merely speculative discussion. I'm not a certified or licensed financial advisor, securities trader, or securities broker; and, this is not intended as financial or securities advice.
DISCLOSURE: I own long shares of
FRC
.
At $12.85/share FRC is trading around 10% of it's 1 month high price of $123.46, and down to just under 5.8% from it's 2021 high prices of $221.80. Can its leadership turn the ship around quickly enough by fixing its long-term, short-term, and reserves mix?
Looking at Willy, VWAP, volume, and price charts, it looks like FRC is repeating a pattern of around 2.5 days of falling 3-4 dead cat bounces down to $11.50-$11.80, then a rebound in the neighborhood of $15.50-$17.00.
For this week, looking for low between $10.50 - $11.80. That, followed by a very short rebound between 40% - 55% of is then low price per share from $14.70 - $18.29, more narrowly within the same neighborhood as the previous two rebounds of $15.50-$17.00.
DISCLAIMER: This is merely speculative discussion. I'm not a certified or licensed financial advisor, securities trader, or securities broker; and, this is not intended as financial or securities advice.
DISCLOSURE: I own long shares of
FRC
. At $12.85/share FRC is trading around 10% of it's 1 month high price of $123.46, and down to just under 5.8% from it's 2021 high prices of $221.80. Can its leadership turn the ship around quickly enough by fixing its long-term, short-term, and reserves mix?
Looking at Willy, VWAP, volume, and price charts, it looks like FRC is repeating a pattern of around 2.5 days of falling 3-4 dead cat bounces down to $11.50-$11.80, then a rebound in the neighborhood of $15.50-$17.00.
For this week, looking for low between $10.50 - $11.80. That, followed by a very short rebound between 40% - 55% of is then low price per share from $14.70 - $18.29, more narrowly within the same neighborhood as the previous two rebounds of $15.50-$17.00.
Trade closed: target reached:
Opened at $14.16. Closed at $14.27.
Made a small profit, but missed the $14.93 by a long shot -- I was at the gym.
Still, it was take profits vs take loss
Made a small profit, but missed the $14.93 by a long shot -- I was at the gym.
Still, it was take profits vs take loss