Stock in Focus: First Gen Corp. (FGEN)

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First Gen Corporation (stock symbol: FGEN) witnessed a slow but steady decline in the past few days, after breaking the down-sloping trendline (which I’ve mentioned in this post) and subsequently making a quick peek above the 16 level.

Let us see if buyers will show up in the 14-15 area, ahead of the ascending trendline forming just beneath it. A break of this (incomplete) trendline would encourage sellers to visit or break the November lows.

The Detrended Price Oscillator (DPO) is moving steady below the zero level.

TP’s Advice: If you like this stock, buy as low as possible. 13 is your line in the sand. If 15 holds, near-term target is 18-20.

12.20 is the 32-month low posted on November 26.

FGEN Daily chart, February 5, 2014

FGEN Daily chart, February 5, 2014

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