June 17, 2008
FRPT - Nasdaq. Force Protection has completed a Head and Shoulders Bottom after breaking out above resistance yesterday. I would like to see the volume expand more, perhaps to around the 3-4m before getting involved. There’s a lot in favor here - OBV is rising since the March low implying the buyers have resumed control of the stock. The target price for the pattern is around 9.00 and there’s a pretty big gap to close around the 15.00 so a good stock to keep an eye on.
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