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SHORT ON FBR (4hr)- Historically FBR trends have respected all Descending Triangle Formations - The blue shaded area represents the Orange Descending triangle size, which projects the fall size - There appears to be strong support at 2 cents, this could take a crack before pushing though - There's a gap at around 1.8 cents which will be the magnet to be filled once 2 cents falls - Not much upside fundamentally as Management are stalling with signs they're not ready to build - Capital Raise around the corner, this could be the catalyst sends the price to or beyond previous lows Its tough to say how the trends will act around the 2 cent level to begin with as there could be some resistance, once breached it should be a clear path to previous lows Good chance the descending triangle will be tested after first break downward AIMO
ASX:FBRShort
by Spade_of_Aces
FBR overall Short Bias but Potential Bullish H&S formimgThis is my first chart ever so definitely not advice Overall I have a short bias due on this stock at the moment with a continuation of the downtrend. On the contrary: It is historically cheap, so the H&S could be a contending reversal at this point... Should be watched closely for confirmation to see which way it could play out Fundamentals (Negative) - No long term revenue - Burning cash - No progression for 6-9 months - Lack of SH confidence - CR required inside 6-9 months - Government will likely drop the R&D rebate incentives due to Covid-19 Fundamentals (Positive) - Heavily sold - Recent reduction of cash burn - currently sitting near IPO baseline - Market Cap is very low Technical Analysis: Short play - Descending Tangle showing strong potential to break downward out for a small short position - Could potentially re enter for a short position if it comes up to test the breakout of the descending triangle Technical Analysis: Long play - If the head and shoulders form and the trendline & neckline is broken, we could see a good sized run up to the previous high
ASX:FBR
by Spade_of_Aces
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