2020-09-10

Who is on the FCC?

Going with the theme of the prior post, here's another stock with a good chart, First Cobalt (FCC.V in Canada). Notice the similarity to early 2016 with the stochastics and the position in the pattern. THe first chart is what it would have looked like in 2016. There was a huge wall of resistance up around the 8 cent area. The stock was already overbought, making a continued push through seem potentially unlikely. However, it would get all the way to 10 cents before hitting some chart resistance (the top of the base) before going on a monster run. It was a more than 10 bagger even if you waited for a breakout above 10 cents. Today, it looks like there will be resistance in the 20 to 25 cents area before making its breakout. Other cobalt stocks have similar patterns, this happesn to be one I own, but not the only one.

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