I never was really taught charts in college. I pretty much look at the chart and say, hey looks like its going up.
Based upon that premise, I would look at FBCD chart and say, oh no, heck no.
Ok, add the technicals to the chart. One day, I had to sit down and learn for myself what everything represented.
This board talked about the acculminating line close to its highs and that was a good thing.
Well, is it really?
One has to understand why the acculmnation line is at its peak. Looking at the financials you would understand that LeClerc has given out majority of the shares through sweet heart deals, debt deals, and non-cash compensation deals. In my opinion you can throw that technical out the window.
You can look at the 200 day average line and say, look the share price crosses here so it's a reversal?
Well, could it just be possible that the stock has just leveled off to the bottom at this point? That leveling off does not necessarily mean that share price will go up. It could continue to go down.
What about the pump and dump to 11 cents?
Doesn't that misrepresent the data of this stock? There were several other failed attempts in preceding months with a pump and dumps. this represents artificial false data.
I would not apply much faith in the technicals of the FBCD chart. I personally look at it and tell myself, what was I thinking.
I would play this stock as a pump and dump.
There are a lot of behind the scene happenings surrounding this stock. These people are attempting to run the stock again. I really question just how successful they can pull it off. I don't see it happening with this group.
On the other hand, I believe there is another group which may do something to increase PPS. This group will either be those involved in the $11.5 million non-cash compensation or someone involved with a debt deal.
The authorized shares are maxed out and the pump has been primed. Something should happen soon.
I certainly would not advise sinking any more money in this stock. Most here are hoping to get their investment back and make a little.
Who knows, maybe we all will get rich. Hopefully those who were honest can keep their money.
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