This is a speculative mining play. Fortune Minerals has properties with proven reserves but is currently not generating any revenue. The company relies on the issuance of common shares to fund administrative and development costs. The stock is trading in a lateral trading band between $0.15 and $0.10. A confirmed breakout above resistance of $0.15 could indicate an intermediate target price of $0.45. A break below support around $0.10 near the 40-week moving average would be a signal to liquidate long positions.
http://www.fortuneminerals.com/assets/other-projects/
______________________________
“Technical Analysis is about probabilities.”
Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.
© 2016 TradeOnline.ca
