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Technical outlook for Frontken's stock price and stock chart.
Frontken has been in a nice uptrend for quite some time.
When a stock has been in an uptrend for a long time, it may grow tired and this is where it gets wide and whippy. I do not know whether it has topped out or not.
The fact that it is challenging the rising 50 MA and wants to go below it may tell us a correction to the 200 MA is possible.
The drop to the 200 MA may be a buying opportunity.
I think the are to watch now is the first green support area. If Frontken can stay above this area, then the wide and whippy movements will just be growing pains and it will eventually move higher.
Otherwise, another drop below this green area might send it down to the next green area which is around 2.00 and that is also where it might meet the rising 200 MA.
When we look at the stock chart above we can see that Frontken is indeed in a very nice daily uptrend. It is making higher highs and higher lows.
When a stock is in an uptrend, it tends to go higher and therefore they often present trading opportunities which one should be on the lookout.
Not a bad idea to keep all stocks that are in an uptrend in a watchlist.
Notice how Frontken has been staying above the rising daily 50 MA for a long time and has not fallen below it. Therefore we should employ this moving average as a trend following tool.
So as long as Frontken stays above this 50 MA we should be bullish on it.
Note also that the rising 200 MA points to a long term bullishness in this stock.
Weekly chart above also shows how this stock is doing. It is in a strong weekly uptrend. Therefore, it is likely that the long term movement for this stock is still up.
One should stay bullish on this stock as long as it stays above the weekly 20 MA.
Recently the stock gave a trading opportunity in the 60 min chart. It found support at the 60 min 200 MA. It also broke above a downtrend line as well as a 60 min triangle.
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