My best play right now FTEK

M

michaelscott

Jim Cramer said to buy FTEK when it was at 21.65 and he was not wrong. There is a reverse head and shoulders on the chart. IF, and the key word is IF, the price breaks to 28 then there is a strong possibility it will get to 33.

My long term price target is in the 40s.

If your not long at this point then I wouldnt long it until it gets above 28 with volume.

I know some of you had this stock as a position and got shaken out the maneuvers up and down. However, these manuevers up and down were the reverse head and shoulders playing itself out. We should move higher from here, that is, IF it breaks to 28 with volume.
 

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Im going to re-calculate the target price later, but you have to realize what is happening here. FTEK is in a certain business involving power plants and cleaning them up using a chemical process.

Any deals or contracts with China will be huge for the company. Lots of power plants in Asia and they are all unreliable. When a power operator wants to clean up their plant, they have to use explosives to get rid of the gunk. Lots of down time for the plant. FTEK uses a chemical system vs. the explosive process.

The system is patented and no one else has it. There is a chance that it could get bought out by the likes of Dupont.. 40 might be a conservative target and I jest not.
 
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