Just thought I would post a chart of FWL. The chart is starting...

Just thought I would post a chart of FWL. The chart is starting to look as though there may be life in the beast yet! A few things to note below;

1.Has closed above its 50dma for the first time since May 2011.
2. MACD has been showing bullish positive divergence for a number of months.
3. MACD has just signaled a buy by crossing above the zero line.
4. 89 period stochastic has just signaled a buy by crossing above 20%.

The above bullish configurations have occurred just 4 times since fwl was listed. That is all 3 indicators provide bullish confirmation at the same time. On 2 occasions it resulted in a short term spike that was quickly sold into before price continued on it's down trend. On the other two occasions the share price rose on a multi month basis. Details of the two multi month rises are below;

1. Jun 2007 - cross occurred at 26c but price ran from 21c low to 93.5c high.

2. Nov 2010 - cross occurred at 11c but price ran from 8c low to 21c high.

It's early days yet and we need to see a considerable build up in volume but on a risk reward bases I see this stock going no lower than 4c or 33% lower where as the upside is multiples of today's price.