Fuel Tech, Inc. stock trades under the ticker FTEK & has recently broken out (on 11/24/20202).
FTEK stock shows great opportunity for a short term trading perspective, both for holders of common shares & options traders.
FTEK closed at $4.40 on 11/30/2020, and still looks to have more room to run.
FTEK Stock Price: $4.40
10 Day Moving-Average: $2.57
50 Day Moving-Average: $1.16
200 Day Moving-Average: $0.85
RSI: 80
While their RSI of 80 is high, it will die down in near time while FTEK stock establishes its new range.
From an options perspective, I am looking at the $5 puts & the $4 calls at the moment while it sorts itself out.
There’s still room for upward growth, but the charts are showing that there will be some profit taking before that happens.
Today’s futures are signaling a green day, but FTEK may be sitting it out, making it worth looking at entry opportunities for common shareholders.
I’ll be looking to play the options I outlined above.
*** I DO NOT OWN SHARES OF FTEK STOCK ***