Stock Chart Analysis FCSX

Stock Chart Analysis FCSX

FCStone Group, Inc. (Public, NASDAQ:FCSX)

FCSX recently cleared a reverse head and shoulders pattern that is a smaller part of a larger consolidation base. The target of the H&S take FCSX out of the triangle, possibly signaling a true breakout to new all time highs. Drilling down to the near term shows that FCSX is still vulnerable here as it remains under the 20 day sma. However, it did find support at the 50 day sma and lower bollinger band, so there is a chance that it could resume the breakout here.


Good Trading,


Joey

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