The MACD and the RSI are signalling that at this point the stock may have harvested all the available buyers and that a pull back may be in the offing.
The MACD and the RSI on the six-month chart are both indicating that the stock may have to give up some of the ground it has gained since the bounce off of $9.00 in March.
Currently there is profit taking as investors who caught the ride December 18, 2012 when the shares traded for $21.72 throw to cash.
To your question I would urge caution before buying given the resistance at $27.50 and the gentle downtrend in place.
As to your question I would say that now is not the time to sell.
At this point with oil sands and mining budgets under review and project time lines being extended I would be cautious in how I approach FTT.
The question we want to answer is if the current selling action is a correction or a full scale reversal.
