Thursday, December 14, 2006

Flotek Industries

After a little consolidation, Flotek resumed its upward march the last couple of days. Today was a technical breakout from a cup with handle base. The 50% correction of the last few months was pretty severe, usually a good base should only correct by 30-35%, but all signs point to higher levels.

  • The 50 dma crossed the 200 dma.
  • IBD ranks FTK in the top 5 of the Oil&Machinery/Equip Group.
  • Someone said that it is VectorVest's #1 stock pick. (who cares)
  • A+ Accumulation rating
  • 96 Relative strength
  • This all adds up to more exposure and higher prices.
What more can I say about FTK that I haven't said before. This was a no brainer down at the $15 and $18 levels.

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