Sunday, April 4, 2010

Stock Stalking , Foster Wheeler

When stalking for potential buys this weekend I came accross a nice inverse head and shoulders pattern on Foster Wheeler. ($FWLT)

The Daily chart looks good:

A little further investigation revealed this nasty looking weekly chart though:

With the market in an overall uptrend, it could break out, watch for a close above 32 on high volume and keep your stop tight, this could be a bull trap.


  1. I may have missed this one, waiting for a pullback.

  2. I got over exuberant and got long yesterday at 29.97, of course today we got that pulback.