Saturday, February 24, 2007

Flotek Industries (FTK) Price and Volume Warning!

Don't get me wrong because I love Flotek. The company is great and should have bright future but the chart is flashing some warning signs. Most importantly, FTK is making some new recent highs on dramatically lighter volume. I have posted a candlevolume chart to help illustrate this point. What is clear is that institutional investors are not interested in buying FTK at these levels. There have been some relatively high volume selling days in the early days of January and February.

One should keep a close eye on FTK, especially with earnings coming up soon. If you are interested in buying, you should wait for a pullback.

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