Futuris Company (FTRS)

[k_trader]

I think we can ignore the tall red candle for EVXA from the 3rd of June because that was a MM trick (fat finger) which should of been .0015 and not .005. I am not using that as one of the indicators in my analysis because it skews the SAR trend line slightly.

The first trend line we have to cross is the Parabolic SAR which is around .0035 (.004's with fat finger). Once this happens we are in a full trend reversal and this stock will soar to new levels.

The second trend line to test is the double bottom's neckline which is around the .02's from the previous run up. Once we break this line and it becomes support, this stock will run huge on the double bottom play.

The next resistance level would be around the .04's this is also a key resistance point, finding support here indicates we are going to fill the gap back to .10!

Looking forward, I would not be surprised to see EVXA hit these levels by mid summer. Hope this helps!