• Focus Metals Inc. (TSX-V: FMS) Always good to have a second view on a chart as I was just reminded by George of Agoracom via Twitter... Thanks George! The last time I talked about Focus Metals it had formed a Bull Flag and had just broken out of the flag portion. The calculated move on the Bull Flag was well over $2.00 but it never got there, decrease chart pattern success rate by one! LOL! Its been drifting down for a while and perhaps it has formed another pattern, which is what I should have done a while ago on it...
  
  As it turns out, we could be seeing a Falling Wedge now except that is has not bounced on the lower trend line as often as 'suggested' by the chart pattern. I should have at least 5 bounces (from top to bottom) to really validate the formation. But with the 200SMA trend line not too far below and today's move up from the lower trend line, it could be the start of a move up. So what will convince me? Indicators (both the Slow Stochastic and Relative Strength Index) are still in the oversold area, not good and no clear entry point. So I'm going to wait for the indicators to turn upwards and the price to move above the upper trend line with an increase of volume.

Cheers!