FCEL shares breaking out !!!
Monday, September 03, 2007
Shares of Fuel Cell closed up on Friday more than 3% to $9.62, following the good performance on Thursday after the earnings report. Shares pushed up again after some good commentaries given by some analysts that see some improvement in Fiscal Third Quarter Results. Lazard Capital Markets analyst Sanjay Shrestha kept a "Buy" rating in stock with an $11 price target, and noted that the company is successfully cutting costs. The technical chart above show that stock is now in a breakout mode, after on Friday has confirmed Thursday breakout. Volume continues high demonstrating strong buying pressure on stock. The trend is now obvious on FCEL - Bull Market active. All indicators are still showing strong investor confidence on stock with MACD and going up; it seems to me that over this week FCEL will test the highs of the year at $9.90. Support is now at $9.15 and resistance at $9.90.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.
Labels: FCEL
