Fero Industries, Inc FROI
FROI had a great day following our pre-market alert yesterday, seeing a high of .015, and closing 30% in the green at .011. From the day’s low of .0075, that’s an intraday gain of 100% on around seven times the 10-day average volume. Not too shabby for our first day of coverage on a new stock.
There appeared to be resistance in the .0135 to .015 area, then the stock dipped to find support at a penny. Its always important to monitor support and resistance levels, watching as closely as possible.
This was a short term winner for us, but with the developments going on internally within the company, this could be a play that we stick with all the way through the beginning months of 2012. We’ll want to see how the company’s planned expansion of Sucanon to the Middle East goes before we even think about losing interest in this one. .
More Info can be found at www.feroindustries.com
We would like to extend our deepest heartfelt holiday greetings to all, howsoever you and yours celebrate the season. We’ll see you all again when trading resumes, stay safe and happy!