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FONR Close +19.89% @ 21.21, 774K (3.9 x's

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MiamiGent Member Level  Tuesday, 12/31/13 06:25:06 PM
Re: MiamiGent post# 355716
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FONR Close +19.89% @ 21.21, 774K (3.9 x's 90 DAV)
http://acaciaresearch.com/wp-content/uploads/2013/12/123113-Fonar-Corp.pdf
Profitable company with news and a float under 6M
MG

http://stockcharts.com/h-sc/ui?s=FONR


Technical Event

Fonar Corp forms bullish "Symmetrical Continuation Triangle" chart pattern
12/19/2013

Recognia has detected a "Symmetrical Continuation Triangle (Bullish)" chart pattern formed on Fonar Corp (FONR on NASDAQ). This bullish signal indicates that the price may rise from the close of 16.71 to the range of 22.00 - 23.25. The pattern formed over 16 days which is roughly the period of time in which the target price range may be achieved.

Fonar Corp has a current support price of 11.01 and a resistance level of 18.43.

A Symmetrical Continuation Triangle (Bullish) is considered a bullish signal, indicating that the current uptrend may continue. The formation occurs because prices are reaching both lower highs and higher lows. The technical event occurs when the price breaks out of the triangle formation to close above the upper (descending) trendline, thereby confirming the pattern.

This bullish pattern can be seen on the following chart and was detected by Recognia's proprietary pattern recognition technology.


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