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[CU]

Falcon Energy [2010-03-08] - $0.675

Stock formed a short-term bullish divergence while heading lower low recently. Today's small rally may continue and led a re-test of multi-resist along 0.705 as shown

Potential target - 0.70 ~ 0.705 (about 5% gain)
Tight stop-loss - 0.65
Validity - 1 week or upon breaking of support/resist

Chart created with ChartNexus charting software

[CU]

Falcon Energy [2010-03-12] - $0.665

Stock falls back below support-turned-resist at 0.675 which creates an uncomfortable feeling on me. When in doubt, exit your position (current analysis closed)

Chart created with ChartNexus charting software

[CU]

Falcon Energy [2010-04-10] - $0.705

Chart Analysis:
1] first analysis was done a month ago, and this is what has been expected at that time, and the reason of giving a 0.705 target initially
2] two months of consolidation, this is the second occasion. The first along 0.74 neckline resist, currently it happens along 0.705 resist
3] daily MacD continues to gain strength similarly in both occasions
4] should the situation repeats, then we may see a similar rise in the coming two weeks

Resist - 0.82 (estimated)
Support - 0.67 (tough resist turned support)
Validity - 3 weeks or upon breaking of support/resist

Chart created with ChartNexus charting software