Fortitude Group, Inc. (FRTD)

[Imperial Whazoo]

Heres what I see in the candles.

Looking back to the high volume day of Oct 5 (4.9 mill), it touched .15 and closed near the top at .143. The resistance turned out to be the 200 day EMA (.1517 on Oct 5). The next day, and the next after that, it made two more stabs at the resistance levels, each time on significantly lower volume.
On Oct 10, it did a hammer, with the tail finding support just above the 50 day MA, rejected it. Volume on the pullback was 613K, or 4.9M vs 613K (12.5% only). The lesson is that this stock wants to go higher.

So to today. Because the pullback on 10/10 was about 72% off of the top of the 2day move of 10/6 & 10/5, it may need more upside volume behind it to both challenge the .16 resistance area and the 4.9 mill volume that day. However, what that tells you is that any pullbacks here are buying opportunities.

Looking at it on a weekly basis, the message is the same, only stronger. The 50 priod MA is .1503 on the weekly. That is resistance. And, we are at 3.9 mill (today being Thursday noonish) vs 7.5 for the week prior.

All told, a little patience. This puppy wants to go higher. It may require a stagger step back, but IMHO, that would be a buying opportunity.

Anyway, thats how I see it. Form your own ideas, though. I could be wrong. Do not make decisions on ideas from some stranger (moi, for example) on a blog.

Imperial Whazoo