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[sharechat] FFS Chart

From: Phaedrus <>
Date: Tue, 4 Dec 2001 23:10:49 -0800 (PST)

 (Requested by David) Viewed over about a year, FFS has been in a wide trading 
range (23 - 34 cents). Within this range it has been in a downtrend for the 
last four months. Short-term, a bullish flag has formed.
 A bullish flag is defined as an upward move in an almost straight line (the 
flagpole) followed by a short downward sloping rectangle, bounded by two 
parallel trendlines. The pattern is confirmed by a breakout above its upper 
trendline, which is thus the buy signal. This is a reliable pattern, with a 
failure rate of 13%, and an an average gain of 19%. Flags are a short-term 
pattern  - formations longer than about 3 weeks have a higher failure rate. 
 When to buy? FFS is very near to a historical support level. While it is 
unlikely that this level will be broken, any close below 23 cents would have 
negative implications. The prudent thing, therefore, is to wait, and buy on any 
close above the downward trendline. Very cautious investors should wait for a 
new uptrend before buying.

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