It appears that there is some support at $11.50. But with a death cross starting to form and the sector not enjoying the summer and early fall on a seasonal basis it might be wise to consider cutting your losses and preserving capital for a re-approach later in the year.
If you have an appetite for risk you could jump on now and see if you catch a lift. On the other hand if you are risk averse you would want to see FM move through resistance at 82.50 and see if you can ride it back to $92.50.
What I also see is a small double bottom off support which is a reversal pattern indicating that the selling that started in the middle of January could be coming to an end.
If there is a rub in the MSQ story is that the company has been hacking away at projects for over 20 years without a major breakthrough. That having been said it is often the case in business that an over night success comes after 20 years of plugging away.
If you go through the corporate information on the website for CS you will find that they ran into some operating problems in the third quarter that have needed attention.
A pull back in the shares of FWM to $3.00 would be a reasonable entry point for a stock with potential but trading on thin volume.
PolyMet Mining has been actively developing the opportunity at their property in Minnesota and have done just about all you can do to satisfy the regulatory process.
