Fuyu (F13) - Strong and Attractive ?
Fuyu (1) has been on the downtrend since its peak( $0.635) in mid July 2005. Currently retraced approx 30% and pierced through (2) the Price Channel Resistance level @ $0.495. My experience tell me that stock that rise 20% within 4 to 6 weeks will have high tendency to accelerate another 20% without much obstacle. That is at $.0.52. When that is cleared we should see the next resistance level @ $0.535 which also coincides with the 50% Retracetment. Level (3). OBV (4) is still on uptrend confirming Accum/Distrn (5); this means the accumulation phase is well and still alive! The volume today at 1.8 mil is the highest relative to 0.4 mil and 0.6 mil of the 10 period average and the 50 period average respectively.
Fundamentally, @ 8 X FY05 EPS, and 1.1 X FY05NTA, Fuyu appears undervalued and attractive!
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