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.