Certainly more than an average days trading for FEA so far today. Trading up as far as 15.5 for a 19% gain and now sitting at 15c for 13.3% That makes three days in a row and I see the lack of sellers in the face of such gains in such a normally very low volume stock as a great sign. Looks to me like small holdings being sold in also.
As I have stated before since last October in fact, FEA has a net tangible backing of 39c per share and is without a doubt the place to find some potentially big gains when the results of financial year tax effective investment is released post June 30.
On top of that - if a takeover of this company is to be effected as seems to be the popular view then it will need to be at prices nearer the 30c mark imho. That makes for pretty decent upside to todays 15c.
I would like to see a break through the last peak at 16c to provide some strong support now.
Cheers
FEA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
