re: big chart..........madmacs?
Hi madmacs, FEA is down the more speculative end of the listed MIS timber industry along with but perhaps ahead of APL (at least FEA didn't actually go into administration like APT (APL) - but it was sure looking dodgy there at one stage.
FEA have some very driven relatively youthful management now and though they don't benefit from the great rape and pilage rort that GNS has currentluy got access to over native forest they have substantially improved their game and (perhaps more importantly) their marketing and therefore image with some key fund managers.
33 - 33.5 has been the important level here and I find this to be a very messy chart.
43 was my rising fib target based from the August high and November low, just didn't quite make it, and FEA has retested the 33c low now which is also the 38.2% falling fib support. 37c is the 23.6c so if FEA were going to a full retrace then this is around where it would fail and revisit 33, 30 and ultimately 27c.
On the other hand if the rising pattern holds then its upward and onward.
i reckon I would be playing a stoploss below 36c(depending on the entry I guess John.)
Its too murky for me so I'm sitting on the sideline with FEA and watching for some form of confirmation around the above figures.
btw I reckon HDR will be a short at $2.13
What do you reckon?
FEA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
